Sanjay23
Service
VGKNAIRVKM
Accounts Officer
+1 Other

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Dear all
Please let me know the Which allowance can be reduce the tax
if 50,000 is the monthly salary
25000 is basic
10000 is hra
800 conveyance
1250 mediacl
1000 telephone
1000 book and periodicals
1250 lta
1500 uniform Allowances
1000 food expenses
8000 special
please tell me above mentioned allowance are exempted or not is there is any other tax free allowance can add to the salary and reduce special allowance to reduce tax on salary
thanks and regards
Mahesh

From India, Bangalore
The way you have framed your sentences, I am not able to understand even one question of yours.............................
From India, Ahmedabad
Ok I want to know the tax free allowance, which can be add to the salary
From India, Bangalore
Hello Mahesh,

Do like this if your employer agrees

For 50,000 Gross salary

Basic 20000

HRA 15000 ( PUT BILLS FOR AVAIL TAX BENEFITS )

Medical 1250 ( MEDICLAIM POLICY OR MEDICAL BILLS )

Conveyance Allow 800 ( 100 % TAX BENEFITS )

Education Allow 200 ( NEED BILLS )

LTA 2000 ( NEED BILLS )

Mobile reimbursement 1000 ( 100% TAX FREE,NEEDS BILLS PER MONTH TO AVAIL TAX BENEFITS )

Attire reimbursement 2000 ( 100% TAX FREE,NEEDS BILLS PER MONTH TO AVAIL TAX BENEFITS )

Petrol Reimbursement 2000 ( 100% TAX FREE,NEEDS BILLS PER MONTH TO AVAIL TAX BENEFITS )

Entertainment reimbursement 2000 ( 100% TAX FREE,NEEDS BILLS PER MONTH TO AVAIL TAX BENEFITS )

Maintenance reimbursement 1000 ( 100% TAX FREE,NEEDS BILLS PER MONTH TO AVAIL TAX BENEFITS )

Helper Reimbursement 2000 ( 100% TAX FREE,NEEDS BILLS PER MONTH TO AVAIL TAX BENEFITS )

others 750

Gross 50,000-8000 (HRA)-1250 (MEDICAL)-800 (CONVEYANCE)-200(EDUCATION)-2000(LTA)-10000( REIMBURSEMENTS)

Amount for tax calculation PER MONTH : 27750

Amount for tax calculation per year : 333000

100000 Rs for 80c

Amount for tax is 2,33000

Professional Tax deduction=2,33000-2400

Final Amount for tax 2,30,600

Exemption is 200000

So total value for tax 30,600

If you take food coupans per month for 3000 value also tax reduction.

If any mistake please guide seniors.

Regards,

Ashish

From India, Pune
Thanks for the details
My employer his given a chance to me as I required
shall I proceed with above mentioned allowances to avail tax benefit, if it is possible please give the (IT Sections no) for above mentioned allowances
Regards
mahesh

From India, Bangalore
Hello Mahesh,
For reimbursement you needs to discuss with your Accounts department to do provision as per companies act.
For 1Lac rupees exception per year : 80C
For Medical: 80D
For HRA : 80GG
For lta : Section 10(5) of income tax act
Regards,
Ashish

From India, Pune
Few more to say in this. for petrol and other reimbursement bills should be 25%more ie., allowed is only 75% of the claim. Whereas medical bills will get 100% exemption.
Moreover if you take LTA in once in two years ,it will be
fully exempted whatever may be the amount, but you need to submit the claim and take LTA Leave.
Regards
VGKNAIR VKM

From India, Bangalore
as salamo alaikum everyone, food coupon limit per working day is 50 rs so maximum per month is rs 1500 per month (30 days) br, sohail 9702487008
From India, Mumbai
Hello Mr. Shaikh
As per sodexo company we can give 5000Rs meal vouchers per month to every one, as per their data LIC,RBI and many more company follow the same practice.
Please confirm from company itself
Thanking you,
regards,
Ashish

From India, Pune
Hi Ashish,
Thanks for your inputs.
Can you pls guide me to frame the break up of CTC of Rs. 8500 for Uttar Pradesh State where the minimum wages is Rs. 6300.
As per my employer, the basic part needs to be kept at minimum and maximum take home should be provided to the employee.
Rgds
Sanjay

From India, Delhi
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