Deduction of allowances from salary income

This query is : Resolved

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

I am drawing salary of Rs. 300000/- per anum in a pvt Ltd company

please inform me the deduction of various allowances which i can deduct in my salary for tax saving

Regards

Raj Kumar

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Guest (Expert)

17 July 2012 kindly ans the following question:
1. Are you staying in rented house or owned house?
2. Which is your city of work?

Tushar Desai

Tushar Desai (Expert)
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17 July 2012 You can take benefit from various allowances like HRA, Conveyance, LTA, Medical, Child Edu All, Child Hostel All, etc..

Now, it depends on composition of your pay package..

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Raj Kumar G S

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

My Salary Package is Rs. 300000/-
Iam residing in Rent House
At what percentage my Rent allowance should i deduct on which basis, now Iam paying 9000/- rent per month
please send the structure with all allowances deduction to avoid TDS & Income Tax

Tushar Desai

Tushar Desai (Expert)
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17 July 2012 1. Is your city of residence a metro city or a non-metro?

2. What is your Monthly Basic & Monthly HRA?

3. Any LTA & Medical All being paid?

4. are you being paid Conveyance All or similar allowance??

5. Pls provide exact break-up of your 300000/- package.