salary structure

[Kuldeep Kapoor]

Monthly salary is 46000 , I request the expert to show how it can be structured to have minimum tax liability

[Ganeshan Kalyani]

Tax can be saved by investing in various avenue. Sharing link for your reference.

http://www.charteredclub.com/income-tax-deductions/

Additionally, some company pays salary by way lunch coupon, petrol expense allowance, etc. Which is not taxable. This depends on certain criteria in an organisation. Pls check with your HR.

[KASTURI SETHI]

Sh.Ganeshan Kalyani Ji,

Thanks for enrichment of my knowledge.

[DR.MARIAPPAN GOVINDARAJAN]

You have to ascertain the income for the whole year since you might have been given increment and other allowances etc., You may save ₹ 1,50,000/- per year for which you have to show proof to your employer who will deduct tax from your salary and remit the same to the credit of the Government. Exemptions are there for which you can refer the provisions of income tax law or as indicated by Shri Ganeshan.

[Nash Industries I Pvt Ltd]

Your salary is 46000/- pm that translates to 5.52 lakhs pa.

With HRA (40% of salary) and rent paid, Conveyance (Rs 1800 pm), Medical Reimbursement (Rs 1250 pm) and the rebate for income under 5 lakhs, you may not be liable to pay income tax.

Regards

S.Ramaswamy

AI Summary

Tax minimisation through salary structuring reduces taxable income by using exemptions, allowances and qualified deductions effectively. Tax minimisation through salary structuring reduces taxable salary by claiming employer-adjusted deductions for documented investments and by applying allowable exemptions and rebates. Operative measures include furnishing proof to the employer for investment deductions, and claiming non-taxable or partially exempt allowances such as HRA, conveyance, medical reimbursement and specified employee benefits, subject to organisational and statutory criteria so payroll tax withholding reflects these adjustments.