Salary Heads - Taxable & Non Taxable

swetap
hiii....
We are in process of salary restructuring which will help the employees to minimize their tax liability.
I would appreciate if anybody could provide me with the list of salary heads which are taxable and non taxable
Thanks & Regards,
Sweta
pon1965
Non-Taxable:
Conveyance allowance - Rs.800/- p.m (no proof required to be produced)
HRA - 40% of basic +DA in non-metros and 50% in metros (tax benefit for the House rent paid minus 10% of basic + DA, rent receipts to be produced with the PAN details of landlord if the rent is exceeding Rs.1.00 L p.a)
Medical Assistance - Rs.1250/- p.m (bills are required to be produced)
Children Edu allowance - Rs.100/- per child/month (max 2 children)
Children Hostel Allowance - Rs.200/- per child/month (max 2 children)
LTA - Tax benefit twice in a block year of 4 yrs.
Uniform Allowance & washing allowance (on production of proof)
Others are taxable.
Pon
pon1965
In addition, the contribution towards NPS (10% of basic + DA) by employer is also exempted from tax. This amount may be reduced from the CTC of the employees. Food coupons (max Rs.2500/- p.m) is also tax exempted. Gift coupon - Rs.5000/- p.a. is also tax exempted.
Pon
sunjive bhandari
an amount of Rs. XXXXXX/- to be reimbursed on submission of bills on account of Entertainment & hospitality, conveyance, books and periodicals. Eg 1. Movie tickets, resturant bills, entertainment park entry tickets, personal hotel stay
2. Any travel made by you or your family member by cab, train, air for which bills can be presented
3. Home land line, broadband connection, any other post paid mobile bill which otherwise is not being charged to company used by any member of your family.
4. Bills for purchase of Books, magazines, newspaper or any other subscriptions for your reading
5. Bills pertaining to any gift item purchased.
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