Salary bifurcation of Rs. 300,000 per annum
Salary bifurcation of Rs. 300,000/- per annum, i.e., Rs. 25,000/month:
1. Basic Salary: Rs. 6,250/- (25% of Monthly Gross salary)
2. Dearness Allowance (DA): Rs. 1,500/- (6% of Monthly Gross salary)
3. Additional Work Allowance (AWA): Rs. 3,000/- (12% of Monthly Gross salary)
4. Variable Pay: Rs. 11,750/- (47% of Monthly Gross salary)
5. Medical Allowance: Rs. 1,250/- (5% of Monthly Gross salary)
6. Conveyance Allowance: Rs. 1,250/- (5% of Monthly Gross salary)
Income Tax slab for Individual taxpayers for the Year 2017-18
As per the Income Tax slab for individual taxpayers for the Year 2017-18, income from Rs. 250,000 to Rs. 500,000 is taxed at 5%.
Regards,
Amit