Salary breakup

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.
Asked 6 months ago in Jobs from Chennai, Tamil Nadu
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
Caabhishekdugar@gmail.com
Abhishek Dugar
CA, Mumbai
755 Answers
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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


 
Shiv Kumar Agarwal
CA, Delhi
195 Answers
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Dear Sir,

What is your rent outflow per month? And where do you stay?
Abhishek Dugar
CA, Mumbai
755 Answers
5.0 on 5.0
  Talk to Abhishek Dugar
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?
Abhishek Dugar
CA, Mumbai
755 Answers
5.0 on 5.0
  Talk to Abhishek Dugar

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