Dear All,
Just a query, now that medical and conveyance are removed from exemption from Income Tax, so can we keep standard deduction as one of the salary components? IF not then what components needs to be added in place of medical and conveyance ? Currently we have kept components as follows :- Basic, HRA, Medical, Conveyance & Special Allowances
We are a startup so don't want to complicate the salary structure.
Kindly help. Thank you in advance
Just a query, now that medical and conveyance are removed from exemption from Income Tax, so can we keep standard deduction as one of the salary components? IF not then what components needs to be added in place of medical and conveyance ? Currently we have kept components as follows :- Basic, HRA, Medical, Conveyance & Special Allowances
We are a startup so don't want to complicate the salary structure.
Kindly help. Thank you in advance