Hi,
One of my friends is changing her job, and her current salary is 24 LPA. Please email me a salary breakup of 24 lacs per annum without PF (Salary structure) so that if she submits the same structure in her new company, then she has to pay lesser tax in the coming March 2012.
It's urgent, so please email me at taneja_pooja@hotmail.com.
Pooja
From India, Delhi
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4One of my friends is changing her job, and her current salary is 24 LPA. Please email me a salary breakup of 24 lacs per annum without PF (Salary structure) so that if she submits the same structure in her new company, then she has to pay lesser tax in the coming March 2012.
It's urgent, so please email me at taneja_pooja@hotmail.com.
Pooja
From India, Delhi
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Hi, salary structure is depend on company. so, there is no specific format for salary breakup. about income tax saving consult income tax or search on income tax official wesite. Regards, sushil.
From India, Pune
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From India, Pune
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Pooja,
For 24L CTC, she/he has to pay I.T. but can structure the pay to attract less I.T.. I am also falling into this category, I opted for the following structure which may be useful.
1. Divide the CTC into Base pay & Choice Pay. Base pay is 40% of CTC.
2. HRA 50% of basic for metros or 40% for non-metros. (exempted on gross minus 10% of basic subject to rental receipts production)
3. Med. Assistance - 15000/- p.a (exempted subject to production of bills)
4. Conveyance - If she/he has own Car in his/her name, she/he can claim Rs.240,000/- p.a. towards company-related trips. Only the statement of exp. has to be signed by the immediate manager. In case of a two-wheeler, 60,000/- p.a. is allowed. Otherwise, a flat rate of 800/- p.m is totally exempted, no proof is required to be produced.
5. Child Edu. allowance - Rs.100 per child p.m for max 2 children. total exempt
6. Child Hostel allowance - Rs.200 per child/month for max. 2 children, if they are in hostels. total exempt.
7. Food coupons - 2700/- p.m. total exempt
8. Gift Vouchers - Rs.5000/- p.a. total exempt
9. Club Allowance - Up to 200,000/- p.a. for the registered health/holiday clubs. Photo ID of the club and receipts have to be produced for exemption.
Rs.100,000/- on savings under 80C
Rs.20,000/- on Infra bonds under 80 CCF
Housing loan interest up to 150,000
The rest are taxable.
Hope I clarified. For any doubts, revert.
Pon
From India, Lucknow
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For 24L CTC, she/he has to pay I.T. but can structure the pay to attract less I.T.. I am also falling into this category, I opted for the following structure which may be useful.
1. Divide the CTC into Base pay & Choice Pay. Base pay is 40% of CTC.
2. HRA 50% of basic for metros or 40% for non-metros. (exempted on gross minus 10% of basic subject to rental receipts production)
3. Med. Assistance - 15000/- p.a (exempted subject to production of bills)
4. Conveyance - If she/he has own Car in his/her name, she/he can claim Rs.240,000/- p.a. towards company-related trips. Only the statement of exp. has to be signed by the immediate manager. In case of a two-wheeler, 60,000/- p.a. is allowed. Otherwise, a flat rate of 800/- p.m is totally exempted, no proof is required to be produced.
5. Child Edu. allowance - Rs.100 per child p.m for max 2 children. total exempt
6. Child Hostel allowance - Rs.200 per child/month for max. 2 children, if they are in hostels. total exempt.
7. Food coupons - 2700/- p.m. total exempt
8. Gift Vouchers - Rs.5000/- p.a. total exempt
9. Club Allowance - Up to 200,000/- p.a. for the registered health/holiday clubs. Photo ID of the club and receipts have to be produced for exemption.
Rs.100,000/- on savings under 80C
Rs.20,000/- on Infra bonds under 80 CCF
Housing loan interest up to 150,000
The rest are taxable.
Hope I clarified. For any doubts, revert.
Pon
From India, Lucknow
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