Can someone share me the list of taxable and non-taxable salary components? - CiteHR
Loginmiraclelogistics
Asso.prof.(commerce & Management) Pg
Skhr07
Hr Advisor
Sandipg1977
Account Manager
+1 Other

Cite.Co is a repository of information created by your industry peers and experienced seniors sharing their experience and insights.
Join Us and help by adding your inputs. Contributions From Other Members Follow Below...
Hi, Can someone share me the list of taxable and non-taxable salary components? I am planning to change the salary structure of my company and include as much non-taxable components I can.
I am attaching the Excel sheet of my present salary structure and calculations. I would appreciate if you can update the file and add the components.
Thanks in advance.


Attached Files
Membership is required for download. Create An Account First
File Type: xls Payroll Calculator.xls (31.5 KB, 164 views)

The pay structure as enclosed is not scientific and lot of errors. You cannot deduct Employee's portion of PF & ESI from employee's salary. The PF Contribution on the basis of latest Supreme Court Verdict should be on all items except HRA in your present case. Monthly gross salary is actually less than 10,000/- ( Which is CTC) which should reflect in payroll and payslip.
Income Tax benefit components in the salary structure is not required at the level of salary you have posted as example.
Please consult with any expert before you further proceed about the projects as it will be required lot of inputs specially in the context of different codes related to labour laws which will be introduced in future.
S K Bandyopadhyay ( Howrah, WB)
+91 98310 81531

Basic + DA 3,000
HRA 1,500
Travelling All. 800
Tech All. 1,500
City Compensatory All. 1,000
Personal Pay 2,200
Dear Sir,
You can in increase the Transport Allowance as Rs.1600/- By Removing personal pay (Taxable) you can include Children Educational Allowance :( Non Tax able) Uniform Allowance,(Non Taxable) Reimbursement of medical expenses (Non Taxable) .Regards, Ganapathy V

Hi Sandipg
First, your Rs.10,000 gross salary appears defective as it might be less than the 'Minimum Wages' prescribed in WB. Pl.check your state govt's notification on this. That apart, if this is the gross salary the incumbent not going to be in 'taxable income' drawing group as the gross works out to Rs.1,20,000 only which is far below the taxable limit of Rs.2,50,000 p.a. for FY 2019-20.

@loginmiraclelogistics, the Excel sheet just an illustration. you did not understood my question. instead of only looking at the figures in the Excel sheet, please answer the question. The Excel sheet figure can be anything. I repeat, it's just an illustration. I have just entered a random figure.
@ANNONYMOUS,
dear Ganapathy V, don't you think Transport Allowance , Children Educational Allowance , Uniform Allowance, Reimbursement of medical expenses doesn't exist anymore after Standard Deduction increased to Rs. 50000?

It appears that Sandipg1977 is Account Manager and obviously has expertise about I TAX . Then what is the purpose of raising the queries. From your last posting it is also clear about your knowledge base.
What is required in the pay structure as you have posted at random ( as per you) needs some re-look for the following reasons :-
1.0 As per Feb,2019 Supreme Court Verdict - it is now essential to increase % of Basic in respect of Gross salary (must be more) specially up to 15,000/- PF Gross ( Basic/Basic + DA ).
2.0 Also required to consider the proposed definition of wage under Social security code.
3.0 There is no common element in salary structure on which all taxable employees will get ITAX rebate. HRA as per conditions, LTA as per conditions , Car related expense as per conditions etc. will be applicable for higher level taxable salaried employees. If you know any other thing and based on Financial budget scheduled on 01.02.2020 , you please act accordingly.
S K Bandyopadhyay ( WB, Howrah)
+91 98310 81531

Attached is the updated calculator.
Let me know if you have any questions.


Attached Files
Membership is required for download. Create An Account First
File Type: xls Payroll Calculator.xls (32.0 KB, 12 views)

@Skhr07
Thank you Sampathkumar S.

Please Login To Add Reply






About Us Advertise Contact Us
Privacy Policy Disclaimer Terms Of Service



All rights reserved @ 2020 Cite.Co™