suresh (accountS ) (158 Points)
07 April 2012IAM GETTING AN OFFER FROM NEW COMPANY BUT I DONOT WANT TO PAY TAX / GIVE ME SUGGESTION / I WANT TO REDUCE TAXABLE INCOME BASIC AMT BUT DONOT KNOW WERE / HOW TO TO ADJUST.
SLAB OFFERED BY COMPANY.
BASIC-22900
HRA-6000
TIFFIN ALLOWANCE-1300
CONV-800
TOTAL 31000.00
KINDLY SUGGEST
Devendra
(Chartered Accountant)
(4775 Points)
Replied 07 April 2012
Instead of taking Tiffin Allowance, you can show your medical expense bills, if any, and claim medical reimbursement of Rs. 15000 p.a which is fully exempt from Income Tax.
Also you can Invest in PPF, LIC and pay mediclaim premium which will help you to reduce your Tax Liability.
Regards,
Devendra Kulkarni
CAclubindia
