Kindly let me know in case of higher salary paid employees what kind of benefits I can get under the new Income tax provisions.
I am being paid under the following head:
Basic+DA ( Taxable), HRA ( Exemption As per current provisions),Transport Allowance (Exemption Rs 800 p.m.) , Medical Reimbursement (Exemption Rs 1250 p.m.),Educational allowance ( Taxable) and Special Allowances (Taxable).
Apart from this we are getting the deductions under 80C, 80D.
I request you please let me know what type of salary head we must have which will be fully exempt or partly exempt under the current provisions apart from which I have mentioned above.
Kindly request you to suggest me the same so that I can request my concerned people for getting the maximum benefit of Income tax so that I will have limited liability of Income tax.
CAclubindia
