Thursday, December 22, 2011

Kindly Let me know about my taxable salary?

All allowances are taxable. Medical , HRA, LTA are reimbursements and not taxable. If you take a home loan of 12 Lac..you will pay approx. 12000 per month, this should almost entirely be deducted from your taxable salary. Taking into account your other inputs, the taxable salary will be abt 90000 only and you dont need to pay any tax.

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