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umama siddiqua
hi,

can any guide me as to which salary component is totally exemted from tax. Because I need to structure the salaries for Grade I executives. As per our company policy for executives whose gross is 25001 & more, basic has to be calculated only for 25%.

I was able to structure it to some extent..

For 70,000

As per Pay slip - 32000

Basic + DA = 8000

HRA = 4000

CCA = 12000

Spl All = 8000

_________________

Total 32000

Monthly Voucher Payment

Drivers Salary = 5500

Telephone = 2000

Journals & Periodicals = 2000

House Loan (this loan was taken

directly from bank) = 10000

LIC policy = 11126

Bajaj Life Insurance = 500

Total = 31126

_____________________________

Monthly Total 63126

Payouts As per terms of employment (Annual)

Medical Reimbursement = 15000

LTA = As per company policy

Office wear & Maintenence = As per company policy

Please help me to structure 2lacs, 1.25 lacs & 80K

What are the non taxable components which can be included if the individual has not taken any policy or has not invested in anything.

Pleeeeeeeeeeeeeeeeeeeeeeezzzzzzzzzz help me out of this.

From India
umama siddiqua
Still no comments... can anybody guide me as to what are non taxable components & whats the proportion of that.
From India
umama siddiqua
:shock: :shock: :shock: :shock: :shock: :shock: :shock: nobody to clarify my doubt... thanx for the support & cooperation :evil: :evil: :evil: :evil: :evil: :evil:
From India
Ramu.A
Dear Freind
i did understand ur problem
i am attching here the one of Tax Exenption information
have a look of it
hope it may helps you
any other queries regarding Tax
Mail me to

Warm Regards
Ramu

From India, Delhi
Attached Files (Download Requires Membership)
File Type: xls taxcalc_2008_191.xls (178.5 KB, 85 views)

umama siddiqua
Dear Ramu,
Thanks a lot for the useful information.
Will try working on the break up for 2 lakhs, 1.25 lakhs, 70K & 85 K.
If iam not able to work out kindly please do help me out.
once again thanks a lot.
regards,
umama siddiqua

From India
gina.g15
1

Hi
To add to the list that was sent by Amit, there are a couple of other reimbursements that can be added :
1) Conveyance Reimbursement(Petrol Bills)
2) Telephone Reimbursement (Telephone or Mobile Bills)
3) LTA (payable in a block of 2 years) - (Travel Bills)
4) Food coupons
The point 1-3 do hire a Fringe Benefit Tax of 6.79% on the total amount reimbursed. Food Coupons is totally Tax Free.
There are a couple of other components that are also available in a salary structure - such as Club Facilites, Car Lease, Driver Charges etc.....I myself am doing a study on these components to undestand the tax implications.
Will keep you posted on the same.
Regards
Gina

From India, Hyderabad
leenapilla
Hi Amit A small clarification sought regarding CTC.Is it not inclusive of mobile expense,insurance and other facilities provided ( like laptop /company vehicle). regards Leena
From India, Thiruvananthapuram
Amitmhrm
496

Dear Revathi,
Yes one is required to produce the Rent agreement or receipt of the same at the end of the financial year.. to avail tax benefits on HRA..
Dear Leena.. yes all the expenses are included while calculating CTC..
But some companies even some big companies don't add some expenses in their CTC.. as travel allowance is not fixed.. It depends on requirement... sometimes a meeting is been lined up.. and one is required to attend the same.. so you can't include travelling allowance in your CTC..
Likewise, some companies provide Mobile expenses, but don't include that in their CTC.. as mobile bill can't be static...
Hope it must have solve your query upto some extent..
Regards,
Amit Seth.

From India, Ahmadabad
M.Peer Mohamed Sardhar
733

Good Piece of Information,,, Thank You,,,
For More on that, Pls Click the following links,
https://www.citehr.com/download-list...lary+Structure
https://www.citehr.com/download-list.php?query=CTC
https://www.citehr.com/download-list...Tax+Calculator
Regards
Mohamed Sardhar
093831 93832

From India, Coimbatore
Jessiejpr
19

Dear All, Could you please let me know the maximum exempt amount for Books and periodicals in a monthly salary (we used to follow upto 500) Thank u & regards, Jessie J
From United Arab Emirates, Dubai
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