Salary breakup

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archana (Querist)
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17 November 2009 My friend have joined new comany, that company ask him to give a salary breakup which will be suitable fr him from tax view.His salary in new company will be 6 lacs p.a.Please give me the salary breakupi.e.what allowances fascilities he should take?? what perquisites he should take?

chetan soni

chetan soni (Expert)
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17 November 2009 Archana there are two things involved in the pay package. One is fixed salary & other one is perks.

The company asked the options for perks only & not for fixed component. So please let us know the value of perks in your friends case.

CA SANJAY MUKHERJEE

CA SANJAY MUKHERJEE (Expert)
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17 November 2009 Hi Archana,

After the abolition of FBT most of the perquisite( benefit out of pay slip) become taxable and the chance of minimising tax is also reduced. However the following components may reduce tax to some extent.
House Rent Allowance: If the person pay rents for staying.

Leave Travel Allowance : Deduction can be claimed once in two years or twice in four years for travel within India.

Conveyance Allowance: 800 Rs. per month.
The list is inclusive and all the allowance can be paid monthly and tax exempltion can be claimed against expenses incurred for the HRA and LTA.

Outside salary slip 15,000 per annum can be claimed as medical expenses against bill.

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