Many organisation have flexi benefits components as part of their compensation package to enable the Employee to save tax.
I also wanted to implement but I have been challenged by my Peer who is a Plant HR Head and I am R&D HR Head.
He asks me to show the exact clause in the income tax act with the exact amount of flexi benefit permitted by IT !
Do any one know here which are the IT act which allows these to allocate as exemptions exactly with the said amount or any upper limit.
Fuel Maintenance for Car - 21600 PA for CC of engine with in 1.6 / 28800 PA CC of engine exceeding 1.6 CC
Driver's Salary - 10800
Telephone reimbursement - 24000 PA
Books and Periodicals - 12000 PA
Professional Development
I also wanted to implement but I have been challenged by my Peer who is a Plant HR Head and I am R&D HR Head.
He asks me to show the exact clause in the income tax act with the exact amount of flexi benefit permitted by IT !
Do any one know here which are the IT act which allows these to allocate as exemptions exactly with the said amount or any upper limit.
Fuel Maintenance for Car - 21600 PA for CC of engine with in 1.6 / 28800 PA CC of engine exceeding 1.6 CC
Driver's Salary - 10800
Telephone reimbursement - 24000 PA
Books and Periodicals - 12000 PA
Professional Development