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.
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.