Salary breakup for it

This query is : Open

Raj Kumar G S (Querist)
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18 July 2012 Dear Sir,

Please suggest me whether the below mentioned Deduction are Correct or not

Gross Salary 396000

Deductions
H R A 118800
Transport Allowance 18000
Conveyance Allowance 9600
Education Allowance 2400
Medical Allowance 15000
Petrol & Vehicle
Maintainance for car 14400
Leave Travel Allowance 30000
Telephone Allowance 18000

Total Deductions 226200

Standard Deductions
Provident Fund 9360
Professional Tax 1800

11160
Total Deductions (226200+11160) 237360
Net Income 158640

Thanking you

Regards
Raj Kumar

HRIDAYNATH PATRA

HRIDAYNATH PATRA (Expert)
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19 July 2012 It means you are a salaried person.

I could not understand whether the amounts you have shown as deductions are included in the figure of 396000 or not. Even though these are included in this figure, the deduction amount will be calculated as per the seperate IT rule.

I suppose, you have already received your Form 16 issued by your employer. There you would find the actual deduction calculation.

Please confirm if this is your salary income details or some imaginary figure. I can help you in this issue.