Dear All, Can anybody tell me a salary breakup (Basic + HRA + Other Allowances) of Rs. 24,000/- in which we can get more exemptions or deductions from TAX and can nil the whole tax payable without the deduction of PF? Regards
From India, Solan
Acknowledge(1)
Amend(0)
2From India, Solan
Acknowledge(1)Amend(0)
Dear Arti, Please refer the attached file. I believe it will answer all your queries. For any other clarification feel free to write or disucss.
From India, Mumbai
Acknowledge(4)
Amend(0)
From India, Mumbai
Acknowledge(4)Amend(0)
Let us have a Basic of Rs. 7000/- (for PF Exemption), HRA 40% of Basic Rs. 2800/- (Tax-free subject to conditions), Rs. 1300/- by Food Plus Card, Rs. 1250/- Medical Reimbursement, Rs. 800/- Conveyance expense (all 3 Tax-Free). The rest is Special Allowance Rs. 10,850/-.
In this case, taxable income would be Rs. 2,14,200/-, which will attract NO TDS if we avail 80C.
Acknowledge(2)Amend(0)
In this case, taxable income would be Rs. 2,14,200/-, which will attract NO TDS if we avail 80C.
Acknowledge(2)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.
Salary breakup format.xls
Rules for Statutory Deductions Exemptions Perquisites-Pay roll.doc