5..Leave 1. Available for two out of 4 block of years travel For all of the amount paid or for family depending on him. facility By air-economic far 2.Carry over possible, for next first year Train or same route train service or unrecognized public services-first AC tickets By public transport-first class or deluxe class ( it is exemption available against money recived) 6.valaution incase of Calculate monthly interest rate(as per sbi) For medical Less: amount collected as interest disease interest ( it is exemption available (Balance of amount is chargeable to tax) exempted against money recived) Not Exceeding not chargeable 7.medical In India upto ( it is exemption As for medical facilities and for owners,govt,approved available against insurance also hospitals-fully exempt recived) exempt fully In outside Cost medical treatment and stay- ( it is exemption India upto RBI limit available against Travelling if salary nor exceeding 2 money recived) lakhs 4. Valuation of perquisite in respect of motor car Particulars Car own by employer Car own by employee Other conveyance Running Running expnses Running Running Running expnses expnses met by met by employee expnses met expnses met by met by employer employer by employer employee Official use exempt exempt Fully Fully exempt Fully exempt exempt Private used Expnses dep 10% Expenses Expenses Expenses incurred incurred by Less: amount incurred by incurred by by employer employer+ dep recoverd employer employer Less: amount 10% Balance is Less: Less: amount recovered Less: amount chargeable amount recovered Balance is recoverd recovered Balance is chargeable Balance is Balance is chargeable chargeable chargeable Partly private 1800 or 600 or 900/mnth Actual Actual Actual expenditure and partly 2400/month (Above 1.6)+900 expenditure expenditure incurred official (above 1.6 incurred incurred Less:900 cubic)+900 Less:1800 or Less:1800 or Less: amount driver charges 2400 2400 recovered Less: Less: amount Balance chargeable amount recovered to tax recovered
5..Leave travel facility For all of the amount paid or By air-economic far Train or same route train service or unrecognized public services-first AC tickets By public transport-first class or deluxe class ( it is exemption available against money recived) 1. Available for two out of 4 block of years for family depending on him. 2.Carry over possible, for next first year 6.valaution incase of interest ( it is exemption available against money recived) Calculate monthly interest rate(as per sbi) Less: amount collected as interest (Balance of amount is chargeable to tax) For medical disease exempted Not Exceeding not chargeable 7.medical facilities In India upto and for owners,govt,approved hospitals-fully exempt ( it is exemption available against recived) As for medical insurance also exempt fully In outside India Cost medical treatment and stay- upto RBI limit Travelling if salary nor exceeding 2 lakhs ( it is exemption available against money recived) 4. Valuation of perquisite in respect of motor car Particulars Car own by employer Car own by employee Other conveyance Running expnses met by employer Running expnses met by employee Running expnses met by employer Running expnses met by employee Running expnses met by employer Official use exempt exempt Fully exempt Fully exempt Fully exempt Private used Expnses incurred by employer+ dep 10% Less: amount recoverd Balance is chargeable dep 10% Less: amount recoverd Balance is chargeable Expenses incurred by employer Less: amount recovered Balance is chargeable Expenses incurred by employer Less: amount recovered Balance is chargeable Expenses incurred by employer Less: amount recovered Balance is chargeable Partly private and partly official 1800 or 2400/month (above 1.6 cubic)+900 driver charges 600 or 900/mnth (Above 1.6)+900 Actual expenditure incurred Less:1800 or 2400 Less: amount recovered Actual expenditure incurred Less:1800 or 2400 Less: amount recovered Actual expenditure incurred Less:900 Less: amount recovered Balance chargeable to tax
income-from-salaries-made-simple.docx