My salary is 40000. How should i calculate salary brakup My house rent is 18000. But i cant put HRA more than 100000/annum as i wont get my owners pancard. Please give me advise on how to breakup into basic pay, hra, tele reimbursement,TA,med reimbursement,food coupan,professtional allowance.What will happen if i cant produce bills for enough bills for prof allowance and med reimbursement.
Dear Sir,
You can claim 15000 per annum as medical reimbursement, reasonable amount as telephone reimbursement I.e. approx 1000 p.m., travelling allowance is 1600 p.m. and food coupon upto 3000 PM. You can claim 80C deduction like lic, elsss etc.
If you don't give enough evidence for medical reimbursement, it will be disbursed to you as a taxable allowance at the end of year.
I don't think so after doing all this you have to pay any tax.
Thanks and Regards,
Abhishek Dugar
Dear Sir,
As per your requirement you can plan your salary for income tax purpose by following bifurcation:
Exempted
Basic Salary 20,000*12= 240,000 0
HRA Received 12,000*12= 1,44,000 72,000 (Assuming rent paid Rs. 8000 Per Month)
Transport Allowances 2,000*12= 24,000 19,200
Telephone Reimbursement 1,000*12= 15,000 12,000
Medical Reimbursement 1,250*12= 15,000 15,000
Food 1,250*12= 15,000 15,000
Other Allowances 2,500*12= 30,000 0
After following above structure of salary your tax liability would be Rs. 7680 however you can also claim deduction u/s 80c such as lic premium paid, Tution fee of child, any other investment to reduce your tax liability.
Thanks & Regards
My salary breakup Basic pay 20000 Hra 10000 Telepho 1000 Trans allo 1600 Med reim 1250 Professional allow 5150 Food coupan 1000 Whats my taxable income and how much tax i have to pay.
Dear Sir,
What is your rent outflow per month? And where do you stay?
In chennai .rent is 18000.hra 50%of basic pay.
But will u be able to show 18k rent, in your main question you said that you cant show rent more than 1 lac per annum.
Further where is the pf component. Your employer don't deduct pf?