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Salary certificate

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15 July 2014 Mr x is working in private company and annual salary ofrs 220000.00 fy 2013-14 and he has paid lic rs.20000.00. Net salary 200000.00
salary certificate form 16 issue for how much amount and lic should be shown in certificate

Kindly reply urgently
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CA Devanand Jethanandani

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CA Devanand Jethanandani (Expert)
15 July 2014 Hi Seeta,


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Gross salary Rs.2,20,000/-
Less : Allowances to the extent exempt u/s 10
i.e. conveyance allowance, education allowance etc.

Then deduct professional tax

From the resulting figure deduct deduction under chapter VI-A
i.e. LIC, mediclaim, providend fund etc.


Regards,
Devanand
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Rupesh Jain

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Rupesh Jain (Expert)
16 July 2014 total salary - exemption u/.s 10 if any
after that deduction under chapter VI-A will be deducted and then balance will be net salary.
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