Vamn
Hi Sir,

I would like to know what are the components in salary are taxable eg CTC is divided into Basic, HRA, Conveyance...etc now are these components taxable (basic and HRA) apart form special allowance..please help me on this... also hw is income tax is calculated and what are the slabs and will it be calculated on the special allowance left after basic, HRA and conveyance.....I would be grateful to you if you help me on the same.

I would like to know what whether the basic salary is taxable....and special allowance is taxable but how much. Will give you one example Say CTC of ABC is 20,000 PM, then

the salary break up will be as follows:

Basic Salary - 8000

HRA (Metro) - 4000

Conveyance - 800

PF Contibution get deduct both of employer and employee... and then rest all goes to Special allowance...

I would like to know hw much tax amount will be applicable on ABC...hw much he need to pay as a tax...

Regards

From India, Gurgaon
ramu_dvn
7

hi !
The CTC is divided as follows :
Basic
HRA
DA
Medical allowance
Transport allowance
Special allowance
--------------------
Gross salary
--------------------
Employer contribution to PF
Employer contribution to ESI
Perks( credit cards,free meals,telephone charges,free house,water,electricity suply etc)
----------
CTC
----------
Gross salary :
Less :
1) Employer contribution to PF
2) Employer contribution to ESI
3) Professional tax
4) TDS
--------------
Net salary
--------------
Please find the attached tax calculation slab:
Income Tax %
upto 110000 0
110000-150000 10%
150000-250000 20%
Above 250000 30%
Have a nice day
rAMu


arunkarnwal
Tax query can i show my wife education and medical expense, as education and medical expense in my return under deduction?
From India, Chandigarh
deepikarana28
income tax slab has been changed its upto 250000 is nil and 250001 to 500000 is 10%, 500001 to 1000000 is 20% and 1000001 above is 30% but for upto 60yrs employee
From India, Delhi
Community Support and Knowledge-base on business, career and organisational prospects and issues - Register and Log In to CiteHR and post your query, download formats and be part of a fostered community of professionals.





Contact Us Privacy Policy Disclaimer Terms Of Service

All rights reserved @ 2024 CiteHR ®

All Copyright And Trademarks in Posts Held By Respective Owners.