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I want to know possible best salary structure for our india limited company. I want to know, what types of head, do we add under non-taxable income income. Pls. guide me.
The following are the some heads of Income which is non taxable.
1. H R A (some limit is there)
2. Conveyance (up to Rs. 800/ p.m)
3. Medical expenses reimbursement (up to Rs. 1250/ p.m)
4. Uniform allowance.
5. Any reimbursement of expenses.
1. H R A (some limit is there)
2. Conveyance (up to Rs. 800/ p.m)
3. Medical expenses reimbursement (up to Rs. 1250/ p.m)
4. Uniform allowance.
5. Any reimbursement of expenses.
In addition to the heads mentioned such as HRA,Conveyance,Medical,Uniform etc. you may consider the following which also enjoy applicable tax exemptions:
Children's Education Allowance:Rs.2400/- for two children annually is exempted from income tax
Children's Hostel Allowance:Rs.7200/- for two children annually is exempted from income tax
Leave Travel Assistance:Exempted from tax 2 times in a block of 4 Calender years;present Block-January06 to Dec'09
Food Passes:Exempted upto Rs.15600/- per annum
Gift Coupons:Exempted upto Rs.5000/- per annum
Superannuation Fund:The contributed amount to this fund is exempted from income tax
regards,
Rahul Datta
Children's Education Allowance:Rs.2400/- for two children annually is exempted from income tax
Children's Hostel Allowance:Rs.7200/- for two children annually is exempted from income tax
Leave Travel Assistance:Exempted from tax 2 times in a block of 4 Calender years;present Block-January06 to Dec'09
Food Passes:Exempted upto Rs.15600/- per annum
Gift Coupons:Exempted upto Rs.5000/- per annum
Superannuation Fund:The contributed amount to this fund is exempted from income tax
regards,
Rahul Datta
Dear friends,
Its certainly uncompromising the kind of answer and picture provided to a genuine question. It brings down the objective of the forum. Lets put our head together to discuss and provide some valuable input and knowledge to the person who have asked for help rather than providing some funny pictures or passing funny comments.
I request all folks to maintain the objective of the forum and make this as a share house of knowledge. I hope everybody will stand by my side on this regard.
Regards,
Raghu shekaran
Its certainly uncompromising the kind of answer and picture provided to a genuine question. It brings down the objective of the forum. Lets put our head together to discuss and provide some valuable input and knowledge to the person who have asked for help rather than providing some funny pictures or passing funny comments.
I request all folks to maintain the objective of the forum and make this as a share house of knowledge. I hope everybody will stand by my side on this regard.
Regards,
Raghu shekaran
I appreciate the views expressed by Raghu.
As regards the original query regarding the best compensation structure,much would depend on the kind of Organization Structure you have,the kind of skill sets required,the availability of such skilled manpower in the market and scores of other things.However the current emerging trend is to go for a CTC based Compensation Structure which goes well even with the old fashioned grade structure derived through a ranking method after proper job evaluation.
Please give the necessary inputs so that we can respond to your question better.
regards,
Rahul Datta
As regards the original query regarding the best compensation structure,much would depend on the kind of Organization Structure you have,the kind of skill sets required,the availability of such skilled manpower in the market and scores of other things.However the current emerging trend is to go for a CTC based Compensation Structure which goes well even with the old fashioned grade structure derived through a ranking method after proper job evaluation.
Please give the necessary inputs so that we can respond to your question better.
regards,
Rahul Datta
I am the one who had posted a frivolous picture to a serious question. I knew that I might not be helping anyone by posting that and so had myself prefaced it with the lines:
QUOTE
Non Taxable Heads. Nothing can tax them!
Sorry for a silly response to a serious question.
UNQUOTE
But the other interpretation of non-taxable heads was just too tempting ... I still feel that it does not in any way harm the discussion. One could take it or leave it.
I appear to be wrong.
Actually I am new to forums, have had little opportunity to interact on the Web in general and lack the etiquette necessary for participating in such activity. Apparently, I have broken some principle and I tender my apologies again. Sorry.
A.R. Eclexys
QUOTE
Non Taxable Heads. Nothing can tax them!
Sorry for a silly response to a serious question.
UNQUOTE
But the other interpretation of non-taxable heads was just too tempting ... I still feel that it does not in any way harm the discussion. One could take it or leave it.
I appear to be wrong.
Actually I am new to forums, have had little opportunity to interact on the Web in general and lack the etiquette necessary for participating in such activity. Apparently, I have broken some principle and I tender my apologies again. Sorry.
A.R. Eclexys
Hi, Would like to know whether telephone exp reimbursement is taxable or non taxable? Regards, Meghana
Hi Meghana,
I have gone through the forum and found that No one answer his query properly and he is remain back to square one.
Whatever I know I will share with you.
HRA - 50% of basic is non-taxable in delhi and NCR it is 40%
Conveyance - Rs 800/- pm non taxable
LTA - once in two year's block non taxable
Telephone - Rs 3000/- pm non taxable
Children Fees - Rs 12000/- pa non taxable
Medical - Rs 1250/- pm non taxable
Leased Car comes under non taxable also
As of now this is coming to my mind if any thing comes later I will add accordingly.
Thanks,
John
I have gone through the forum and found that No one answer his query properly and he is remain back to square one.
Whatever I know I will share with you.
HRA - 50% of basic is non-taxable in delhi and NCR it is 40%
Conveyance - Rs 800/- pm non taxable
LTA - once in two year's block non taxable
Telephone - Rs 3000/- pm non taxable
Children Fees - Rs 12000/- pa non taxable
Medical - Rs 1250/- pm non taxable
Leased Car comes under non taxable also
As of now this is coming to my mind if any thing comes later I will add accordingly.
Thanks,
John
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Listed Under limited company Country-India medical expenses job evaluation organization structure emerging trend uniform allowance salary structure taxable income City-India-Ahmadabad
Salary heads.xls
Salary-Note.doc
