Dear seniors and colleagues,
Please see the attachment and advise if the structure is correct. I want to revise the CTC structure of employees as they are complaining about the tax liability due to the structure. I have spoken to a CA, and according to them, it's fine. However, I have doubts about the PT part. Can we include PT under the annual components of the CTC structure or not?
Please suggest... it's really urgent.
Regards,
Shikha Jain
From India, Bangalore
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4Please see the attachment and advise if the structure is correct. I want to revise the CTC structure of employees as they are complaining about the tax liability due to the structure. I have spoken to a CA, and according to them, it's fine. However, I have doubts about the PT part. Can we include PT under the annual components of the CTC structure or not?
Please suggest... it's really urgent.
Regards,
Shikha Jain
From India, Bangalore
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Hi Shikha, I did not understand why you’ve not kept PT part under monthly deduction but only under Yearly part. Rest is OK. Regards, Neeraj K. Singh
From India, Mumbai
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From India, Mumbai
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Basic can be 40% of basic for non-metros & 50% for Metros. The basic shall not exceed 40% of CTC. Fuel reimbursement can go upto 20,000/ p.m. Regards R.Ponraj
From India, Lucknow
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From India, Lucknow
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Circular No 1-2018 Processing of income-tax returns under section 143(1) of the Income-tax Act .pdf
Income Tax Calculator.xls