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For Allowances,we need to remember how much amount is exempt

 

Some allowances given are fully exempt,while others are exempt upto some limits

Those allowances which do not fall in this list are fully taxable

 

Folllowing is chart of Important Allowances

 

Computation of TDS on Employee Salary with Allowances - TDS on Salary with Allowances

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Q1

Particulars Amt Remarks
Basic Salary 100000  
Dearness Allowance 4000  
Special Pay 2000  
Uniform Allowance 5000 (Bill Submitted for 4000)
Academic Allowance 4000 (No Bill Submitted but declaration given of amount spent)
Travelling Allowance 6000 (Bill Submitted for 6500)
Daily Allowance 6000 (200*30 days,he came to work for 26 days)

What is Gross Salary,TDS and Net Salary

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 Q2.

Particulars Amt Remarks
Basic Salary 40000  
Lunch Allowance 4000  
Transport Allowance 2500 (No Bill Submitted)
Children Education Allowance 4500 (1500*3 children)
Variable Pay 30000  

What is Gross Salary,TDS and Net Salary

View Answer

Q3.

Particulars Amt Remarks
Basic Salary 40000  
Lunch Allowance 4000  
Transport Allowance 2500 (No Bill Submitted)
Children Education Allowance 4500 (1500*3 children)
Variable Pay 30000  
HRA 15000 (Rent receipts submitted of 18000  of gurgaon,he lives in gurgaon and works in delhi)

What is Gross Salary,TDS and Net Salary

View Answer

Q4.

Particulars Amt Remarks
Basic Salary 40000  
Lunch Allowance 4000  
Transport Allowance 2500 (No Bill Submitted)
Children Education Allowance 4500 (1500*3 children)
Variable Pay 30000  
HRA 15000 (Rent agreement of 18000  of gurgaon,he lives in gurgaon and works in Delhi, no rent receipts) 

What is Gross Salary,TDS and Net Salary

View Answer

To Learn  more about allowances,click here

  1. Tax Practical
  2. Practical Payroll (TDS Salary,PF,ESI)
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About the Author

CA Maninder Singh's photo - Expert in Practical Accounts, Taxation and Efiling
CA Maninder Singh
CA Maninder Singh is a Chartered Accountant for the past 8 years. He provides courses for Practical Accounts, Taxation and Efiling at teachoo.com .
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