I have got a job offer from a FMCG company in Pune. Company is offering me 12L per annum, but insisting me to give me the salary breakup. I don't have any knowledge about salary structure trend etc. Can anybody help me in structuring the salary in order to minimise the tax burdeon and maximum saving and take home salary.
From India , Jamshedpur
From India , Jamshedpur
Hi
You can take Insurance policies, Mutual funds etc upto 1 lakhs which comes under tax exemption. Medical insurance for self Rs 15,000 tax exempted, for parents Rs 15000 ( if they are above 65 yrs tax exemption is Rs 20,000), Housing loan repayment Rs 1,50,000 tax exempted. Donations to charities 50% tax exempted. PPF maximum Rs 70,000 tax exempted.
regards
Sudha S
From India , Madras
You can take Insurance policies, Mutual funds etc upto 1 lakhs which comes under tax exemption. Medical insurance for self Rs 15,000 tax exempted, for parents Rs 15000 ( if they are above 65 yrs tax exemption is Rs 20,000), Housing loan repayment Rs 1,50,000 tax exempted. Donations to charities 50% tax exempted. PPF maximum Rs 70,000 tax exempted.
regards
Sudha S
From India , Madras
In order to match the offcer of Rs 12 L per annum, you can opt the break-up as follows:
Basic 46200
HRA @ 50% of the basic Rs 23100
Other allowance @ 20 of basic Rs 9240
Food allowance Rs 800
Conveyance allowance Rs 800
take home Rs 80140 minus TDS/PF
Annual Benefits
Bonus 20% of the basic 110880
LTA equal to one month's basic 46200
Special allowance @ 12% of basic Rs 66528
Medical reimbursement Rs 15000
Medical, food and conveyance are excempted from Income Tax
From India , Madras
Basic 46200
HRA @ 50% of the basic Rs 23100
Other allowance @ 20 of basic Rs 9240
Food allowance Rs 800
Conveyance allowance Rs 800
take home Rs 80140 minus TDS/PF
Annual Benefits
Bonus 20% of the basic 110880
LTA equal to one month's basic 46200
Special allowance @ 12% of basic Rs 66528
Medical reimbursement Rs 15000
Medical, food and conveyance are excempted from Income Tax
From India , Madras
If you are knowledgeable about any fact, resource or experience related to this topic - please add your views.
take home salary City-India-Jamshedpur medical insurance job offer tax liability insurance policies tax exemption salary breakup salary structure Country-India
Income-Tax-Calc ulator-FY-2009- 10.xls
Income Tax Forms.zip