Salary

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

17 April 2016 My salary Is RS. 28000/- P.M IN AY 2016-17 with no other income and exemption. i want to know how i breakup this salary from my employer so that i have nil tax payable.

Murtaza I Bhagat

Murtaza I Bhagat (Expert)
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17 April 2016 You have to ask your employer to give form 16 after filling tds return of 24Q for the last quarter (4th quarter) in that form you will find your salary breakup.

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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18 April 2016 As per information, the yearly income comes Rs.3.36 Lakh( considering that is gross) , need to keep at least 40% to 50% as basic and on the basic keep 40% or 50% HRA depends on the city, consider transport allowance and medical reimbursement the maximum exemption amount to cover and balance your PF and PT deduction will take care.( provided you are claiming the exemption of HRA to the maximum benefit your tax may vary )

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