18 LPA CTC Excel
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Prashant,Vehicles used for official purposes (conveyance) come under perquisites as per rule 3(2) of I.T. You have to prepare the statement of expenses and have it signed by the immediate manager to avail tax exemption. The limit is not indicated in the link. I ...
Hi,Can someone help me decide the CTC breakup for my salary? I am the director and promoter of a private Ltd. company in Noida. I am planning to go for a CTC of 18 LPA. Please break up this salary for maximum tax benefits.Regards,Pradeep
Dear Pon Sir,Could you please enlighten us on the sections of the Income Tax Act mentioned in the remarks below:You can ask for INR 240,000 towards fuel & maintenance charges (if you own a four-wheeler) or INR 60,000 per annum for a two-wheeler.Prashant–-Pradeep...
Pradeep,Ask for 40% as basic of Rs. 18L. That means 6.4 L. In Basic, you can claim as 50% of basic as HRA as Noida falls under NCR. (HRA minus 10% of your basic is tax exempted). You can ask for 15000/- towards Medical assistance (tax exempted subject to product...
Could you assist me in creating a Cost to Company (CTC) package of 12 Lakhs Per Annum (LPA) for a Sales Manager role? This should include basic salary, House Rent Allowance (HRA), variable pay, overtime (OT), Special Allowance (SA), and Travel Allowance (TA). Th...
Dear Tabitha,Exemption on Medical Reimbursement and Conveyance Allowance has been removed with effect from 1st of April 2018\. Please check the latest budget updates.Regards, Rahul Chhabra
Hi,You can provide medical allowances of $1,250 every month (not quarterly) above $15,000, which is taxable. 40% of the basic salary out of CTC can be provided. You can even include DA of 10%, if needed.Regards,TabithaBangalore
Education allowance has a capping of Rs. 100 per child per month, and up to 2 children. Hence, the education allowance is not low but as per the IT act.
Thank you for the update, Mr. Rahul.Regards,Tabitha
Joining Bonus is nothing but a welcome bonus for any new employee who is joining the organization. Some organizations pay such a bonus. It has no relation to bonus payments under the Payment of Bonus Act.Any organization can pay a bonus as per the Payment of Bon...