Hi, I wish to compare two offers which I currently hold from a tax perspective.
Offer 1:
• Basic: 9L
• Flexible Benefits: 15L
• Provident Fund: 1.15L
• Gratuity: 0.45L
Offer 2:
• Basic: 16L
• HRA: 7.5L
• Conveyance Allowance: 9600
• Medical: 15K
• Meal Allowance: 28K
• Provident Fund: 2L
• Gratuity: 0.8L
Thanks very much in advance for the help.
Regards,
Achin
From India, New Delhi
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Offer 1:
• Basic: 9L
• Flexible Benefits: 15L
• Provident Fund: 1.15L
• Gratuity: 0.45L
Offer 2:
• Basic: 16L
• HRA: 7.5L
• Conveyance Allowance: 9600
• Medical: 15K
• Meal Allowance: 28K
• Provident Fund: 2L
• Gratuity: 0.8L
Thanks very much in advance for the help.
Regards,
Achin
From India, New Delhi
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Offer 2 have edge over Offer 1 on tax perspective. — — — — — — — - Pon
From India, Lucknow
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616From India, Lucknow
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Thank you for your reply.
Components of Flexible Benefits in Offer 1
The components under flexible benefits in Offer 1 are: Medical, LTA, Conveyance, Fuel, Telephone, Car Lease, Chauffeur's Salary, and Professional Education.
So, after including the benefits under these items, will the taxable income be comparable with Offer 2, or would it be less?
Regards,
Achin
From India, New Delhi
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Components of Flexible Benefits in Offer 1
The components under flexible benefits in Offer 1 are: Medical, LTA, Conveyance, Fuel, Telephone, Car Lease, Chauffeur's Salary, and Professional Education.
So, after including the benefits under these items, will the taxable income be comparable with Offer 2, or would it be less?
Regards,
Achin
From India, New Delhi
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In offer 1:
1. By "medical," you mean Medical Allowances, which are exempted up to a maximum of Rs. 15,000/- per annum.
2. LTA (Leave Travel Allowance) is exempted once every two years. (You may search for more related information on CiteHR.)
3. Conveyance is exempted up to a maximum of Rs. 9,600/- per annum.
The rest of the components are more or less taxable. You have the tax calculator Excel sheet with you. You may input your exact salary amount as per the components to determine your payable tax.
From India, Ahmedabad
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1. By "medical," you mean Medical Allowances, which are exempted up to a maximum of Rs. 15,000/- per annum.
2. LTA (Leave Travel Allowance) is exempted once every two years. (You may search for more related information on CiteHR.)
3. Conveyance is exempted up to a maximum of Rs. 9,600/- per annum.
The rest of the components are more or less taxable. You have the tax calculator Excel sheet with you. You may input your exact salary amount as per the components to determine your payable tax.
From India, Ahmedabad
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