Salary Computation Net of Tax

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Net of taxes means?? I think you are saying that his gross income is say 500 and he is paid 400 after deducting the tax. in this case the computation will be done by taking his income as 500 and 100 will be deducted from his tax liability. as far as car and driver are concerned they do not form part of perquisites anymore. rent free accomodation can be avoided if company shows it as a guest house and is ready to pay FBT on it.

What I am looking for is an excel sheet which has a reverse calculation to comply with tax formalities so that the individual get tax free salary. We want to pay the individual net of taxes US$ 400 per man day, what would be tax to be paid by the company. And Car with driver will have FBT implication.

Originally posted by :Devendra
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