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Salary Income Tax
Status of ITR   CALL: 9900123456
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Income From Salary
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All income received as salary under Employer-Employee relationship is taxed under this head. Employers must withhold tax compulsorily, if income exceeds minimum exemption limit, as Tax Deducted at Source (TDS), and provide their employees with a Form 16 which shows the tax deductions and net paid income.
 Salary XXX
Add: Value of Perquisites Chargeble to Tax

XXX

Add : Profits in Lieu Of Salary

XXX

Less : Allowance to the extent Exempt From Tax XXX
XXX
XXX
3) Children Education Allowance : Rs.100/child Max For 2 Children XXX
4) Hostel Expenditure Allowance : Rs.300/child Max For 2 Children XXX
5) Medical Expenses Reimbursement* : Max Upto Rs.15000 pa XXX
6) Transport Allowance : Rs.800 pm(Irrespective of the amount spent) XXX
7) Other Allowances/Perquisites which are Exempt XXX
Less: Deductions : Professional Tax XXX
Net taxable salary income XXX
Other Allowances/Perquisites which are Exempt
1)Research Allowance : Any allowance granted for encouraging the academic        researches and other professional pursuits. XXX
2)Providing for use of Computer or Laptop XXX
3)Gifts in kind upto Rs.5000 is exempt XXX
4)Telephone charges or Mobile charges is not chargeable to tax XXX
5)Amount spent for providing free education facilities and training of employees      is not taxable XXX
XXX
XXX
8) The amount of employer contribution towards XXX
      a) Recognised PF (Upto 12% of Salary) XXX
      b) Approved superannuation fund XXX
      c) Group insurance schemes XXX
      d) Employees state insurance schemes XXX
      e) Fidelity Guarantee Scheme XXX
9) Club Expenditure : The initial one time deposit for Institutional or Corporate         membership, where benefit does not remain with a  particular  employee after         cessation of employment are exempt XXX
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