Sir how can save income tax HRA, Travelling Allowance etc. all apply any thing else ?

Question

Salary is 50000 p.m.

HRA is deducted

Travelling allowance deducted etsc.

Answer 1

Sir,

HRA Is Exempted to the extent of the least of the following

- Rent Paid In Excess of 10 % of Salary

-40% Of Salary / 50% of Salary (for Chennai, Mumbai, Colcutta, Delhi)

-Actual HRA Received

For the Above Salary Means Basic Salary.

To Get High Benefit Your Amounts in Condition 1&2 Shall be Greater Than Condition 3

Answer 2

redeem it... else it becomes taxable.............

Answer 3

Read Income From Salary

http://mytaxes.in/index.php?topic=17.0