Apart from my Basic this is the breakuop of my monthly salary
I would like to know what and to what extent do any of these qualify for deductions/exemtions from Gross Salary and if so subject to what conditions - all with respect to AY 2012-13
House Rent Allowance 3,750.00
Medical Re-imbursement 1,250.00
Special allowance 10,800.00
Transport Allowance 800
DECUSTIONS
Prof Tax - 200.00
EPF Contribution - 900
I believe that Transport allowance is exempt upto 800 pm
I believe HRA does qualify for deductions subject to certaion consitions - thise conditions are unknown and not understood by me
Special Allowance I do not think will qualify at all
Medical Reinbursement does qualify upto Rs 15000 per annum but what are the conditions? Does one have to claim against actual bills produced for re-imbursement or is it a notional amount?
EPF and Professional tax i know does qualify for deduction with the former under Chapter VI
Thanks for any help on this issue
CAclubindia
