Income tax

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

03 August 2011 Dear Sir/ madam,

I need to ask you as what would the standard deduction for a salaried professional earning 24 lacs ctc per annum. what all provisions can he claim and what all deductions will be considered for such a CTC. Please give an idea as to how to save tax.

regards

MAHENDRA KUMAR BAGRECHA

MAHENDRA KUMAR BAGRECHA (Expert)
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03 August 2011 Hi,

There is not standard deduction from salary at present. You can have following break ups of your salary structure to get tax benefits:
1.HRA
2.Conveyance
3.Medical allowance
4.Children Education Allowance

There are subject to fulfilment of other conditions.