Hi Can you please provide non taxable heads under salary thanks daisy
From India, Ahmadabad
Acknowledge(0)
Amend(0)
From India, Ahmadabad
Acknowledge(0)Amend(0)
HRA Exemption
HRA allowance received by the employee
-
- Actual rent paid – (10% of Basic + D.A.)
- Or 50% of (Basic + D.A.) in case the location is (Mumbai, Kolkata, Chennai, Delhi) or 40% of (Basic + D.A.) in case of other cities.
Whichever is less of the above three.
Conveyance Exemption
Maximum Exempted up to Rs. 9600 p.a. (i.e. Rs. 800 per month when paid along with the salary)
Medical Exemption
Maximum Exempted up to Rs. 15,000 p.a. based on the bills produced by the employee (i.e. Rs. 1,250 per month when paid along with the salary)
Education Exemption
Maximum Exempted up to Rs. 2,400 p.a. based on the number of dependent children's declared by the employee (i.e. Rs. 200 per month when paid along with the salary)
Telephone Exemption
Maximum Exempted up to Rs. 18,000 p.a. based on the bills produced by the employee (i.e. Rs. 1,500 per month when paid along with the salary)
Petrol and Vehicle Maintenance Exemption
For Car: Rs. 1,200 p.m. * 12 months = Rs. 14,400
For Driver: Rs. 600 p.m. * 12 months = Rs. 7,200
Regards
From India, Madras
Acknowledge(0)Amend(0)
2HRA allowance received by the employee
-
Or
- Actual rent paid – (10% of Basic + D.A.)
- Or 50% of (Basic + D.A.) in case the location is (Mumbai, Kolkata, Chennai, Delhi) or 40% of (Basic + D.A.) in case of other cities.
Whichever is less of the above three.
Conveyance Exemption
Maximum Exempted up to Rs. 9600 p.a. (i.e. Rs. 800 per month when paid along with the salary)
Medical Exemption
Maximum Exempted up to Rs. 15,000 p.a. based on the bills produced by the employee (i.e. Rs. 1,250 per month when paid along with the salary)
Education Exemption
Maximum Exempted up to Rs. 2,400 p.a. based on the number of dependent children's declared by the employee (i.e. Rs. 200 per month when paid along with the salary)
Telephone Exemption
Maximum Exempted up to Rs. 18,000 p.a. based on the bills produced by the employee (i.e. Rs. 1,500 per month when paid along with the salary)
Petrol and Vehicle Maintenance Exemption
For Car: Rs. 1,200 p.m. * 12 months = Rs. 14,400
For Driver: Rs. 600 p.m. * 12 months = Rs. 7,200
Regards
From India, Madras
Acknowledge(0)Amend(0)
Dear Vivek, The way you explained is really good, about non taxble heads for salary employees. Thank you very much for your useful information. Regards, Sravan
From India, Hyderabad
Acknowledge(0)Amend(0)
From India, Hyderabad
Acknowledge(0)Amend(0)
Hi Thanks for your response, Can you also advise if it is compulsory for a company to issue FORM 16 to employees who do not come under taxable limit? Will salary slip suffice? thanks daisy
From India, Ahmadabad
Acknowledge(0)Amend(0)
From India, Ahmadabad
Acknowledge(0)Amend(0)
Even if the income is below the exemption limit, the individual has to file the returns. for filing the returns, Form 16 is required.
From India, Lucknow
Acknowledge(0)Amend(0)
From India, Lucknow
Acknowledge(0)Amend(0)
Hi Thanks for your response Our CA informed us that salary certificate will do in case of Form 16, for those employees who are below taxable limit, it is right?
From India, Ahmadabad
Acknowledge(0)Amend(0)
From India, Ahmadabad
Acknowledge(0)Amend(0)CiteHR is an AI-augmented HR knowledge and collaboration platform, enabling HR professionals to solve real-world challenges, validate decisions, and stay ahead through collective intelligence and machine-enhanced guidance. Join Our Platform.
Employee Benefits.doc
Employee Benefits.zip