Hi...
Can somebody please help me for a salary break-up for a CTC package of Rs. 12 lakhs per annum
( 1,00,000 per month with 90000 per month fixed and 10000 per month related to performace payable quarterly in installments of 30000 each).
This is for a General Manager position in a small enterprise, not yet having 20 employees, therefore EPF and Gratuity are not applicable.
Also, how can the income tax liability be minimised considering an investment of Rs. 1,10,000 in ELSS, PPF and LIC.
Would really appreciate the inputs...
Regards,
Narry
From India
Can somebody please help me for a salary break-up for a CTC package of Rs. 12 lakhs per annum
( 1,00,000 per month with 90000 per month fixed and 10000 per month related to performace payable quarterly in installments of 30000 each).
This is for a General Manager position in a small enterprise, not yet having 20 employees, therefore EPF and Gratuity are not applicable.
Also, how can the income tax liability be minimised considering an investment of Rs. 1,10,000 in ELSS, PPF and LIC.
Would really appreciate the inputs...
Regards,
Narry
From India
Hello
Tax planning on annual CTC of Rs.100,000.00
The Employer have to agree with following salary break-up and can help to minimise tax burden of the employee;
Basic Salary 48000
HRA 60% 28800
Vehicle maitenance 9000
Children Education Allowance 200
LTA (Take it once in two yrs block) 4000
Total 90000
Less : Exemption
Against rent recpt in metro city -24000
Children education(Rs.100/ per child) -200
Vehicle maintenance-produce bills -9000
Taxable salary per month 56800 12 681600
Less : Rebate
Ag premium pad for medical insurance upto -15000
Investment in various saving scheme -100000
You can plan for husing loan also 566600
So,
Now ur taxable salary will be 566600
Tax planning on annual CTC of Rs.100,000.00
The Employer have to agree with following salary break-up and can help to minimise tax burden of the employee;
Basic Salary 48000
HRA 60% 28800
Vehicle maitenance 9000
Children Education Allowance 200
LTA (Take it once in two yrs block) 4000
Total 90000
Less : Exemption
Against rent recpt in metro city -24000
Children education(Rs.100/ per child) -200
Vehicle maintenance-produce bills -9000
Taxable salary per month 56800 12 681600
Less : Rebate
Ag premium pad for medical insurance upto -15000
Investment in various saving scheme -100000
You can plan for husing loan also 566600
So,
Now ur taxable salary will be 566600
Mr. Pandey,
I downloaded the tax calculator for the year 2006-07 designed in a spread sheet i.e. MS Excel. I just want to know from your end, if I input the figures against the selected fields , can I get the last figure automatically or have to calculate manually? I am yet to test it still I may be clarified. Also let me know, Have you prepared the tax calculator for the year 2007-08.If it's so,then kindly send it to me for reference. Thank you & hope to receive any in respect of the above.
[Biswajit Pani]
e-mail ID:
From India, Bhubaneswar
13I downloaded the tax calculator for the year 2006-07 designed in a spread sheet i.e. MS Excel. I just want to know from your end, if I input the figures against the selected fields , can I get the last figure automatically or have to calculate manually? I am yet to test it still I may be clarified. Also let me know, Have you prepared the tax calculator for the year 2007-08.If it's so,then kindly send it to me for reference. Thank you & hope to receive any in respect of the above.
[Biswajit Pani]
e-mail ID:
From India, Bhubaneswar
Mr. Pandey, information shared it wonderful and of great Help.
Can you also help with the same for 2007 - 2008 ... .
You can either put it on here or mail me at
.
thanks once again.
From India, Bangalore
Can you also help with the same for 2007 - 2008 ... .
You can either put it on here or mail me at
thanks once again.
From India, Bangalore
Hi...Can somebody please help me for a salary break-up for a Rs 38, 300 per monthI get Rs 3000 per mont as incentive earningThis is for a Veterinary Officer position in a Animal Welfare NGO in Delhi, having 42 employees, and i do not get EPF and Gratuity .Also, how can the income tax liability be minimised considering an investment of Rs. 1,10,000 in ELSS, PPF and LIC.Would really appreciate the inputs...Dr Prabhakaran Palanichamy
From India, Mumbai
From India, Mumbai
Hi,
I just been offered a package of 30LAcs as fixed with 5lacs as PLI (Performance Linked Incentive) I need the most tax saving break up of this CTC to negotiate with? The components mentioned are, basic, LTA, Med,car, Driver, Conveyance,spl allowance, Med Insurance,PF, Gratuity, Bonus...
This is urgent, Pl help
Thanks
From India, Delhi
I just been offered a package of 30LAcs as fixed with 5lacs as PLI (Performance Linked Incentive) I need the most tax saving break up of this CTC to negotiate with? The components mentioned are, basic, LTA, Med,car, Driver, Conveyance,spl allowance, Med Insurance,PF, Gratuity, Bonus...
This is urgent, Pl help
Thanks
From India, Delhi
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CTC Breakup.xls
CTC - Breakup.JPG