Rekha Roy (Financial Administrator) (64 Points)
10 August 2011Hi All,
We are software development company .And want to go for some change in salary structure based on the TDS benefits.So if any one can suggest me -what could be the best option for the same.Also what are the percentage for the Basic,HRA and other things.
Looking for an early response.
Please let me know
Thanks
Rekha Roy
V.MASTHANVALI
(ACCOUNTS EXECUTIVE)
(89 Points)
Replied 10 August 2011
Hai,
LET US ASSUME THAT RS. 1000/- IS THE TOTAL SALARY,
THEN 60% OF THE AMOUNT I.E., 600/- WILL BE THE BASIC+DA,
AND 30% WILL BE HRA I.E., 300/- AND 10% WILL BE THE CONVEYANCE ALLOWANCE I.E., RS.100/-
AS PER SEC.10(13A) THE LEAST OF THE FOLLOWING THREE IS EXEMPTED.
1. HOUSE RENT ALLOWANCE RECIEVED.
2. 50% OF SALARY IN CASE OF RESIDENTIAL ACCOMDATION STUATED IN DMCC(METRO CITIES), 40% IN ANY OTHER CASE.
3. RENT PAID IN EXCESS OF 10% SALARY .
HERE SALARY MEANS BASIC SALARY +D.A ONLY.
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