Hi,
I have just been offered a package of 30 Lacs as fixed with 5 Lacs as PLI (Performance Linked Incentive). I need the most tax-saving breakup of this CTC to negotiate with. The components mentioned are: basic, LTA, Med, car, Driver, Conveyance, special allowance, Med Insurance, PF, Gratuity, Bonus...
This is urgent. Please help.
Thanks
From India, Delhi
I have just been offered a package of 30 Lacs as fixed with 5 Lacs as PLI (Performance Linked Incentive). I need the most tax-saving breakup of this CTC to negotiate with. The components mentioned are: basic, LTA, Med, car, Driver, Conveyance, special allowance, Med Insurance, PF, Gratuity, Bonus...
This is urgent. Please help.
Thanks
From India, Delhi
Dear Aditya, I didn’t undersatnd your question!! can u please give me the correct question.so that i can help u Regards Charvaka Reddy
From India, Hyderabad
4From India, Hyderabad
Dear Charvaka,
I too pose a similar concern. My current consolidated compensation with my employer is 15 Lakhs. I work as a Chief Consultant. With a new opportunity, I am being offered a CTC base compensation. How much should I negotiate for? I am thinking of around 20 lakhs. What would be the total tax deductions per month and per year on 20 lakhs CTC?
Thank you.
From India, Mumbai
I too pose a similar concern. My current consolidated compensation with my employer is 15 Lakhs. I work as a Chief Consultant. With a new opportunity, I am being offered a CTC base compensation. How much should I negotiate for? I am thinking of around 20 lakhs. What would be the total tax deductions per month and per year on 20 lakhs CTC?
Thank you.
From India, Mumbai
Dear Roshni, Thank you so much for the info...It is indeed very useful. I would appreciate if I can get some suggestions on expense heads which i can ask for, to reduce tax liability. Regards Aditya
From India, Delhi
From India, Delhi
hello, Expense Head include Medical, LTA, Conveyance, Uniform allowance, Petrol re-imbursement, Telephone/Mobile.....
From India, Mumbai
From India, Mumbai
Dear Charvaka,
Let me elaborate. I need to know what can be the best net take-home salary in a CTC of 30 lacs. I have this offer and I need to make a decision based on the net earnings that I will take home every month, apart from other things. So, if you can break this CTC down into a monthly net package with the best possible tax savings by adding expense heads that are claimable on a monthly basis, it'll be great.
Hope this helps...
Regards,
Aditya
From India, Delhi
Let me elaborate. I need to know what can be the best net take-home salary in a CTC of 30 lacs. I have this offer and I need to make a decision based on the net earnings that I will take home every month, apart from other things. So, if you can break this CTC down into a monthly net package with the best possible tax savings by adding expense heads that are claimable on a monthly basis, it'll be great.
Hope this helps...
Regards,
Aditya
From India, Delhi
Hello Please find the attached CTC break-up for 30 lacs......... Kindly revert........ I have not calculated IT part......
From India, Mumbai
From India, Mumbai
Dear Aditya,
Please find the attached file of tax calculations. Below are the details of tax exemptions:
- 80C - ₹1,00,000
- 80CCC - ₹10,000
- 80D - ₹40,000
- 80DD - ₹75,000
- 80DDB - ₹50,000
- 80G - Charitable Trust Fund 10% of Basic Salary
- House Loan - ₹1,50,000
Regards,
Charvaka Reddy
From India, Hyderabad
Please find the attached file of tax calculations. Below are the details of tax exemptions:
- 80C - ₹1,00,000
- 80CCC - ₹10,000
- 80D - ₹40,000
- 80DD - ₹75,000
- 80DDB - ₹50,000
- 80G - Charitable Trust Fund 10% of Basic Salary
- House Loan - ₹1,50,000
Regards,
Charvaka Reddy
From India, Hyderabad
Gross salary: 2,000,000
Conveyance: 800
Medical allowance: 1,250
HRA: 3,500
Total Gross Salary: 1,994,450
PT: 200
Total Gross Salary: 1,994,250
80C: 100,000
80CCC: 10,000
Aggregate Deductions: 1,884,250
Loss of House rent property/house loan: 150,000
Total taxable income: 1,734,250
Tax payable: 424,275
Sec & higher education cess: 8,485.5 (14000 10%)
Education cess @ 1%: 4,242.75 (40000 20%)
Total Tax payable: 437,003.25 (370,275 30%)
Per month: 36,416.9375
Note: Under section 80C, 80CCC, 80D, House Loan, Vehicle Allowance, and House Rent, you have to submit the bills.
From India, Hyderabad
Conveyance: 800
Medical allowance: 1,250
HRA: 3,500
Total Gross Salary: 1,994,450
PT: 200
Total Gross Salary: 1,994,250
80C: 100,000
80CCC: 10,000
Aggregate Deductions: 1,884,250
Loss of House rent property/house loan: 150,000
Total taxable income: 1,734,250
Tax payable: 424,275
Sec & higher education cess: 8,485.5 (14000 10%)
Education cess @ 1%: 4,242.75 (40000 20%)
Total Tax payable: 437,003.25 (370,275 30%)
Per month: 36,416.9375
Note: Under section 80C, 80CCC, 80D, House Loan, Vehicle Allowance, and House Rent, you have to submit the bills.
From India, Hyderabad
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