salary-dt

charging section no

15

charging section golden rule

accrual or cash whichever is earlier

basic salary

FT

FEES COMMISION INCENTIVES

FT

BONUS RECIEVED

FT

BONUS DUE AND DECLARED

FE

fully taxable ALLOWNACES TYPES NAME

DA

EA - NON GOV

OTHERS - HACK

FULLY TAXABLE ALLOWANCES TYPES (MAIN 3) NAME

dearness

entertainment

hack

DEARNESS ALLOWANCE 40000 PM (60% FORMS PART OF RETIREMENT BENEFIT)

40000 FT

ENTERTAINMENT ALLOWANCE TYPES NAME

GOVT AND NON GOVT

NON GOVERMENT EMPLOYEE ENTERTAINMENT ALLOWANCE

FT

GOVERMENT EMPLOYEE ENTERTAINMENT ALLOWANCE (3 WEL RULE)

EXEMPT SHALL BE LEAST OF 3

1) AMT OF ALLOWANCE RECIEVED

2) CEILING 5000 P.A.(MAXM)

3) 1/5 * BASIC SALARY

MR X WORKS IN XYZ LTD

BASIC SALARY 80K

RECIEVES EA OF 7000/-

COMPUTE TAXABLE EA

NON GOVT EE HENCE FT

MR X WORKS IN XYZ LTD

IN WHICH CG HOLDS 36% AND SG HOLDS 36% TOO

BASIC SALARY 80K

RECIEVES EA OF 7000/-

COMPUTE TAXABLE EA

FINAL ANS

TAXABLE RS 2000

ANY OTHER RESIDUAL ALLOWANCE OTHER THAN EA AND DA

FT

FULLY EXEMPTED TRANSACTION NAMES

1. ANY ALLOWANCE FROM UNO

2,ANY ALLOWANCE PAID BY GOV OF INDIA TO INDIAN CITIZEN SETTLES ABROAD (FOREIGN DIPLOMAT AND AMBESSEDORS)

3.ANY SUMPUTURY ((STATUTORY) ALLOWANCE AND VOLUNTARY ALLOWANCE) TO HIGH COURT OR SUPREME COURT JUDGE

SEC 10(14) ALLOWANCE RULE

ACTUAL EXP FOR OFFICIAL USE SHALL BE EXEMPTED

AMT GIVEN FOR BRINGING SAMOSA FOR YOU BY EMPLOYER - 100

CASE 1 -> 100 FOR SAMOSA

CASE 2-> 90 FOR SAMOSA

CASE 3 -> 90 FOR SAMOSA 5 FOR DAIRYMILK

EXEMPTED

1. 100

2. 90

3. 90

SEC 10(14) ALLOWANCE 6 ALLOWANCES MNEMONIC

HADCUT

SEC 10(14) ALLOWANCE 6 ALLOWANCES NAME

HELPER

ACADEMIC RESEARCH / TRAINING PERSUIT

DAILY

CONVEYANCE ALLOWANCE

UNIFORM ALLOWANCE

TRAVELLING ALLOWANCE

IT RULES 1962 ( 5 ALLOWANCES MNEMONIC)

CHOTT

IT RULES 1962 ( 5 ALLOWANCES NAME)

CHILDREN EDU ALLOWANCE

CHILDREN HOSTEL ACCOMODATION ALLOWANCE

OUTSTATION RUNNING ALLOWANCE

TRIBAL AREA ALLOWANCE'

TRANSPORTATION / COMMUTATION ALLOWANCE

CHILDREN EDU ALLOWANCE CONDITION

1] EXEMPT UPTO MAX 100 PM

2] MAX 2 CHILDREN ALLOWED

3] STEP CHILD - INCLUDED

4] GRAND CHILD - EXCLUDED

CHILDREN EDU ALLOWANCE

MR X HAS 3 CHILDREN THIER EDU FEES IS AS BELOW

X1 120 PM

X2 70 PM

X3 90 PM

FIND TAXABLE ALLOWANCE

FINAL ANS 1080

CHILDREN EDU ALLOWANCE

ME X RECIVED 2400 OF ALLOWANCE FOR HIS 3 CHILDREN IN AGGREGATE FOR FULL YEAR

FIND TAXABLE ALLOWANCE

FINAL ANS 800

CHILDRENS HOSTEL ACCOMODATION ALLOWANCE

SAME AS CEA ONLY DIFF IS MAX LIMIT IS 300 PM INSTEAD OF 100 PM

OUTSTATION / RUNNING ALLOWANCE ALLOWED TO WHOM

ONLY TO TRANSPORT SECTOR/ GTA WHERE TRANSPORTER SENDS DRIVER CONDUCTOR TO OUTSTATION PLACES

OUTSTATION / RUNNING ALLOWANCE ALLOWED RULE

10K PM

OR

70% OF AMT RECIEVED

WHICHEVER IS LOWER

Tribal Area Allowance LIMIT

200 PM MAX

TRANSPORTATION / COMMUTATION ALLOWANCE

ONLY TO HANDICAPPED PERSON OF 3200 PM

PROVIDED 'THEY HAVE NOT CLAIM DAILY ALLOWANCE U/S 10 (14)

HOUSE RENT ALLOWANCE SECTION

10(13A)

HOUSE RENT ALLOWANCE IN NTR

NA

HOUSE RENT ALLOWANCE IN OTR

APPLICABLE

HOUSE RENT ALLOWANCE IN OTR RULE

1)AMT REC

2) 50% OF SALARY (mumbai delhi chennai calcutta)

or

40% of salary (all other)

3) rent paid - 10% of salary ( BS+DA(%) +COMMISION (% OF TURNOVER))

whichever is lower shall be exempted

CHANGES IN NTR - EA FOR GOV EE

FT

CHANGES IN NTR SEC 10(14) WITHDRAWN

UNI ALL

HELPER ALL

ACADEMIC RESEARCH ALL

CHANGES IN NTR IT RULES 1962 ONLY ALLOWED ONE

TRANSPORT ALLOWANCE

CHANGES IN NTR HRA EXEMPTION

NA

GRATUITY EXEMOT U/S _________

10[10]

GRATUITY REC DURING TENURE

FULLY TAXABE

GRATUITY REC DURING TENURE FOR GOV EE

FULLY TAXABE

GRATUITY AFTER RETIREMENT FOR GOV EE

FE

GRATUITY AFTER RETIREMENT FOR NON GOV NOT COVERED UNDER POGA ACT ,1972

LEAST OF 3

AMT REC

OR

CEILING OF 20 LAC OF ALL LIFE

OR

15/30 AVG SALARY OF 10 MOSTENURE

GRATUITY AFTER RETIREMENT FOR NON GOV NOT COVERED UNDER POGA ACT ,1972

TENURE ;-

1. 20 YRS 8 MO

2. 20 YR 1 MO

3. 20 YR 11 MO

4. 20 YR 364 DAYS

ALL ANS 20 YR

GRATUITY AFTER RETIREMENT FOR NON GOV NOT COVERED UNDER POGA ACT ,1972

SALARY MEANS

BS + DA (%) + COMMISION ( SEE YOUUR BOOK IT IS NOT CLEARED TILL NOW)

GRATUITY AFTER RETIREMENT FOR NON GOV COVERED UNDER POGA ACT ,1972 RULE

LEAST OF 3

1. AMT REC

2. CEILING OF 20 LAC FOR LIFE

3. 15/26 LAST MONTH SALARY TENURE

GRATUITY AFTER RETIREMENT FOR NON GOV COVERED UNDER POGA ACT ,1972

TENURE

IF INCOMPLETE YEAR IS IN EXCESS OF 6 MONTH THEN SHOULD BE ROUNDED OFF

GRATUITY AFTER RETIREMENT FOR NON GOV COVERED UNDER POGA ACT ,1972

TENURE

1. 20 YR 8 MO

2. 20 YR 1 MO

3. 20 YR 11 MO

4. 20 YR 6 MO

1. 21

2. 20

3.21

4.20

PENSION SECTION NO

10 (10A)

PER MONTH/ UNCOMMUTED

FT

PER MONTH/ UNCOMMUTED FOR GOV EE

FT

LUMPSUMP COMMUTED PENSION FOR GOVT EE

FE

LUMPSUMP COMMUTED PENSION FOR NON GOVT EE IF GRATUITY IS RECEIEVED

EXEMPTION OF 1/3 OF TOTAL PENSION VALUE

LUMPSUMP COMMUTED PENSION FOR NON GOVT EE IF GRATUITY IS NOT RECEIEVED

EXEMPTION OF 1/2 OF TOTAL PENSION VALUE (DEEMED ASSUMPTION)

LEAVE SALARY OR LEAVE ENCASHMENT SECTION NO

10(10AA)

LEAVE SALARY RECIEVED DURING TENURE

FT

LEAVE SALARY RECIEVED DURING TENURE FOR GOVT EE

FT

LEAVE SALARY RECIEVED AFTER TENURE FOR GOVT EE

FE

LEAVE SALARY RECIEVED AFTER TENURE FOR NON-GOVT EE RULE

LEAST OF 4

1 AMT REC

2 CEILIENG OF 25 LAC

3 TOTAL OF 10 MO.S SALARY

4 LEAVE CREDIT BALANCE

WHAT IS LCB (LEAVE CREDIT BALANCE)

TOTAL LEAVES AVAILABLE ENTITLED DURING TENURE

- (TOTAL LEAVES AVAILED / TAKEN DURING TENURE)

=

LEAVE CREDIT / 30

=

LCB

TENURE 20 YR 11 MO IN LEAVE SALARY

20 YRS

SALARY IN LEAVE ENCASHMENT

BS + DA (%) + COMMISION (%)

LEAVE CREDIT I N MONTHS IF LEAVES ARE > 30 DAYS P.A.

[(30 DAYS * COMPLETED YEARS OF SERVICE ) - LEAVE AVAILED] / 30

LEAVE CREDIT I N MONTHS IF LEAVES ARE <=30 DAYS P.A.

[ (ACTUAL LEAVE ALLOWED PER YEAR * COMPLETED YEAR OF SERVICE) - LEAVE AVAILED ] / 30