Hi,
I wish to compare two offers which i currently hold from tax perspective.
Offer 1:
Basic: 9L
Flexible Benefits : 15L
Provident Fund : 1.15L
Gratuity : .45L
Offer 2:
Basic: 16L
HRA: 7.5L
conveyance allowance: 9600
Medical : 15K
Meal allowance: 28K
Provident fund: 2L
Gratuity : .8L
Thanks much in advance for the help.
Regards
Achin
From India, New Delhi
I wish to compare two offers which i currently hold from tax perspective.
Offer 1:
Basic: 9L
Flexible Benefits : 15L
Provident Fund : 1.15L
Gratuity : .45L
Offer 2:
Basic: 16L
HRA: 7.5L
conveyance allowance: 9600
Medical : 15K
Meal allowance: 28K
Provident fund: 2L
Gratuity : .8L
Thanks much in advance for the help.
Regards
Achin
From India, New Delhi
604
@ Achin
As such you have not elaborated flexible benefits of offer 1, I am giving my view by keeping given salary components in my mind.
According to me offer 2 is more suitable from Tax perspective, as it has components like HRA, Conveyance, Medical Allowance etc. which are useful for tax saving.
Refer my previous posts I am always referring below link to calculate tax for Salaried persons.
Nithya's Tax Calculator (Download excel put your salary components & you will find the tax payable)
Feel free to revert for any further clarification.
From India, Ahmedabad
As such you have not elaborated flexible benefits of offer 1, I am giving my view by keeping given salary components in my mind.
According to me offer 2 is more suitable from Tax perspective, as it has components like HRA, Conveyance, Medical Allowance etc. which are useful for tax saving.
Refer my previous posts I am always referring below link to calculate tax for Salaried persons.
Nithya's Tax Calculator (Download excel put your salary components & you will find the tax payable)
Feel free to revert for any further clarification.
From India, Ahmedabad
Hi Maulik,
Thanks for your reply.
The components under flexible benefits in offer 1 are: Medical, LTA, Conveyance, Fuel, Telephone, Car lease, Chauffeurs Salary, 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
Thanks for your reply.
The components under flexible benefits in offer 1 are: Medical, LTA, Conveyance, Fuel, Telephone, Car lease, Chauffeurs Salary, 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
@ Achin
In offer 1
1) By medical you mean Medical allowances then it's exempted MAX up to Rs. 15000/- Per Annum
2) LTA once in two year exempted. (You may search more related to this on CiteHR.)
3) Conveyance Max Exempted up to Rs. 9600/- Per Annum.
The rest components are more or less taxable.
You have the tax calculator Excel sheet with you. You may put your exact salary amount as per components to know your payable tax.
From India, Ahmedabad
In offer 1
1) By medical you mean Medical allowances then it's exempted MAX up to Rs. 15000/- Per Annum
2) LTA once in two year exempted. (You may search more related to this on CiteHR.)
3) Conveyance Max Exempted up to Rs. 9600/- Per Annum.
The rest components are more or less taxable.
You have the tax calculator Excel sheet with you. You may put your exact salary amount as per components to know your payable tax.
From India, Ahmedabad
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Circular No 1-2018 Processing of income-tax returns under section 143(1) of the Income-tax Act .pdf
P-TAX.csv