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Search for "Income Tax Calculation Medical Reimbursement Component Salary"


Is medical allowance is a mandatory component of the salary structure
I need to provide the salary structure to my manager. i am sceptical about medical reimbursement. please help me to understand is there any law present that says employer has to put medical allowance/medical reimbursement component in salary structure or it can be opted out. we are a small company with 20 employees. and due to insufficient knowledge they do not have the legitimate bills to support medical allowance and now rs15000 will be taxable. my question is can i remove medical allowance component from salary structure? please help
Calculation of income tax
Hi every one i have to calculate my income tax . pls tell me what component i should add during calculation of income tax . pls calculate my tax . pls find & enclosed the detail of salary brakeup which i get from employer.i will be much obliged to you. thanks & regard s manjit
Please help me to calculate income tax
Hello everyone seeking your help for calculation of tax on salary of employees. the salary component of my company are: a. 1. basic 2. hra basic/2 3. medical 4. conveyance b. reimbursements monthly 1. conveyance 2. mobile c. variable pay 1. performance incentive 2. retention bonus please let me know how to calculate the income tax deduction.waiting for your valuable suggestions. you can ask if the provided information is not inadequate. thanks sangeeta
Income tax deductions for new employees
Hi experts i would be joining a company this coming july. i have a few queries on income tax basically tds. 1 would the company deduct the income tax from the salary from the very first month? and if so how can one save under various saving schemes and reclaim the income tax deducted? filing for income tax reimbursement from income tax dept can be a cumbersome process so i would like to know how can i reclaim the income tax from the company itself. 2 is there a provision wherein one can pledge to the company that he/she would save rs. x under tax saving scheme? thanks
Incomet ax calculation
Respected sir please provide my salary income tax calculation. i have earn rs36500 per monthly salary please provide the income tax calculation above salary. basic salary 14100 house rent allowance 4000 outstation allowance 6050 special allowance 5150 grade allowance 4500 medical allowance 1500 education allowance 1200 total gross salary36500
Medical allowance v/s medical reimbursement
Dear friends can you please advise the difference between these two components of salary medical allowance & medical reimbursement and how tax exemption can be claimed under each of these? can t employees claim for tax exemption to the extent of medical bills submitted if they are getting a fixed medical allowance every month? thanks & regards lakshmi