Plan my salary

My CTC is 12lakh, I am bit worried in planning my salary components and tax.
Asked 8 months ago in Income Tax from Bengaluru, Karnataka
Dear Sir, 

Kindly share your Salary Bifurcation and Investments details such as LIC, PF, Investment in House Property/ House Rent etc.....

I will certainly help.
Email id: ca.skagarwal@gmail.com

Thanks
Shiv Kumar Agarwal
CA, Delhi
195 Answers
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Dear Sir,

We would be happy to plan your salary according to your comfort and rules of your employer.

Please mail us your current salary structure/or any other document you have on caabhishekdugar@gmail.com. We have to discuss it over a call. We can do it as per the convinience. 

Thanks and Regards,
CA Abhishek Dugar
9987972744
Abhishek Dugar
CA, Mumbai
755 Answers
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Dear Sir,

The details provided by you is insufficient to inform you about your tax outflow.

Secondly, are you given on option to structure your salary yourself because no company gives individual employees the option to structure their salary at their own free will as it is difficult for them to manage so many salary structures.

Please share the Appointment/ Appraisal Letter details provided by your company and also your company may have the component structure ready in their database within which you can structure your salary. So please confirm the same with your company and provide us with the needfull details.

Trust this clarifies your query. 

Feel free to get back/ call back for any further clarifications. 

Thanking You. 

Regards,
Rohit R Sharma
BCOM, ACA, LLB - GEN, CERT. FAFP
Rohit R Sharma
CA, Mumbai
706 Answers
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Dear Sir,

Breakup has to be as under :

Basic Salary               6,00,000/-
Dearness Allowance  1,50,000/-
House Rent Allow.      1,50,000/-
Leave Travel Allow.       90,000/-
Books & Periodicals       30,000/-
Business Attire               30,000/-
Meal Voucher                 36,000/-
Medical Exps Reim.        15,000/-
Transportation Allow.       19,200/-
Children Edu. Allow.         12,000/-
Children Hostel Allow.       12,000/- 
Gift Voucher                      15,000/-
Other Allows.                     40,800/-

Total                              12,00,000/-

Tax payable thereon Rs. 1,09,139/- (It can be further saved if rent is paid by you, children are studying, LTA Claimed by you and do investment u/s 80C, 80D & 80CCD and if housing loan taken than 24(b)) 
Vishrut Rajesh Shah
CA, Ahmedabad
220 Answers
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Dear Sir,

The suggestions given by me if possible ask your employer to add it in the other allowance component to reduce tax liability otherwise your total tax liability come to Rs. 1,18,647/-. ( Except considering Housing Loan)

I would suggest you to complete total limit u/s 80 C - of Rs. 1,50,000/- by ELSS if housing loan repayment is less

also i would suggest you to invest Rs. 50,000/- in NPS plan 

so that you will be in position to further save Rs. 23,401/- 
Vishrut Rajesh Shah
CA, Ahmedabad
220 Answers
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Sir I think Mr. Vishrut is seeing your case. Thus let the same conversation continue.
Shyam Sunder Modani
CA, Hyderabad
953 Answers
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I think the query has been properly sorted.
Shiv Kumar Agarwal
CA, Delhi
195 Answers
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  Talk to Shiv Kumar Agarwal
Dear Vinay,

I am on vacation from 12 April to 18 April. let me know if it is OK, if I structure your salary after 18th. I will call you once I come back from vacations. 

I m available for any doubts but won't work on PC. So I can't compute ur structure.

Regards,
CA Abhishek Dugar
caabhishekdugar@gmail.com
Abhishek Dugar
CA, Mumbai
755 Answers
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Dear Sir,

You can opt for Company's Lease Car as I assume the driver and fuel cost will be borne by the company.

Again selling off your car will free your car loan which will leave you with a surplus of 11500/- p.m which can be invested somwhere else.

Trust this clarifies your query. 

Feel free to get/ call back for any further clarifications. 

Thanking You. 

Regards,
CA Rohit R Sharma
BCOM, ACA, LLB - GEN, CERT. FAFP

Rohit R Sharma
CA, Mumbai
706 Answers
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