Structuring of Salary for Efficient Tax /Converting to FBT
This query is : Open
09 February 2009
Hi Experts,
Can any one help in structuring a salary package of INR 21L per annum for availing max tax benifits, even by converting most of the payments into FBT category, wherein the company is prepared to bear FBT, which is of-course much less than an individual paying IT @ 33% for this bracket.
Any calculation in MS excel / tips welcome
Can any one help in structuring a salary package of INR 21L per annum for availing max tax benifits, even by converting most of the payments into FBT category, wherein the company is prepared to bear FBT, which is of-course much less than an individual paying IT @ 33% for this bracket.
Any calculation in MS excel / tips welcome
09 February 2009
Whether the payer is private or public limited company.
What is the age of the receiver.
His number of dependants.
Whether he is having already own house.
His present life policies.
If you provide all these details then we can easily chalk out a good package with less tax outflow.
What is the age of the receiver.
His number of dependants.
Whether he is having already own house.
His present life policies.
If you provide all these details then we can easily chalk out a good package with less tax outflow.
09 February 2009
Dear Mr. Srinivasulu,
Here are the answers:
1) Payer works for a liaison office of a foreign company in India
2) Age - 40 Yrs
3) Dependents - 3+2(parents)
4) Yes a house with interest component 0.85L.
5) Life policies - 24L Term (Prem-0.15L)/ 2L Triple Endowement (Prem -0.05L)
Here are the answers:
1) Payer works for a liaison office of a foreign company in India
2) Age - 40 Yrs
3) Dependents - 3+2(parents)
4) Yes a house with interest component 0.85L.
5) Life policies - 24L Term (Prem-0.15L)/ 2L Triple Endowement (Prem -0.05L)
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