Dear All,
Please anyone can help me to make salary break-up,which will help our employees to save their tax
suggest me the exempt tax amount in following components of salary:
1.car and fuel,
2. business promotions,
3.child education,
4.medical
5.LTA
6.NPS,
7.Meal coupons,
8.Car lease,
9.VPF,
10.Medical professional development
11.Health club membership
12.Mobile bill
13.Internet bill
14.PPF as well
15.Books & periodicals
From India, Gurgaon
Please anyone can help me to make salary break-up,which will help our employees to save their tax
suggest me the exempt tax amount in following components of salary:
1.car and fuel,
2. business promotions,
3.child education,
4.medical
5.LTA
6.NPS,
7.Meal coupons,
8.Car lease,
9.VPF,
10.Medical professional development
11.Health club membership
12.Mobile bill
13.Internet bill
14.PPF as well
15.Books & periodicals
From India, Gurgaon
Dear Friend,
The following are allowed allowances exempt in income tax :-
Allowances allowable to tax payer
Please go through them. If any query persist kindly see the website below.
From India, Kolkata
180The following are allowed allowances exempt in income tax :-
Allowances allowable to tax payer
Please go through them. If any query persist kindly see the website below.
From India, Kolkata
I am bad in Finance & Accounts but as I do understand, all "Allowances" are taxable but all "Reimbursements of Expenses" are tax free. You will have to go deep into "Expanse Type" and identify differences between Allowances and Reimbursements. I give you an example, instead of paying "Conveyance Allowance" or "Mobile/Telephone Allowance" to your employees you may please explore possibility of "Reimbursing" them "Taxi-fare" to & fro Office or take their Mobile/Telephone bills and pay directly from the Company and so on ....
Some Expert may please guide us on this.
Regards,
From India, Pune
Some Expert may please guide us on this.
Regards,
From India, Pune
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