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Ready to use Salary Breakup in Excel


CA Pulkit Sharma

2013-08-03

I am planning to make an excel template. Using template if someone put the CTC than all his salary break up will be automatic calculated and best tax efficient breakup will be displayed.

If anyone has already made or tried can update and also if you have any suggetion for each breakup. Please provide.

Mukesh Jain CA

2013-08-03

I think salary break up will be helpful for people having business since they can compute salary payable, tds, pt, PF, ESI etc. kindly share the same.

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CA Pulkit Sharma

2013-08-03

When is Income from Salary taxable as Income Tax Act 1961?

any salary accrued in previous year ended, whether the salary was received or not

Any amount received as salary whether the amount accrued or not

Any salary accrued or paid by current employer or former employer and was not charged to income tax earlier

Does Income received from partnership Firm as a partner is inlcuded in Salary income?

No the income received from partnership firm as a partner should not be inluded 

What are the Deductions from Salary that are allowed?

For government employees Entertainment allowances are elgibile for deduction. However deduction is subjected to minimum of 5000, Allowance received or 1/5 of salary.

For all employees profession tax paid  is deductible.

What are few allowance which if included can help Tax savings?

Medical Allowance is exempted upto 15000.

Childrens education fees upto 100 per child and hostel Expenses upto 300 per child per month.

Transport Allowances upto 800 per month

House Rent Allowance subject to certain conditions

How can I save Tax on my salary?

Plan your salary not in March(End of the year) but in beginning of year.

Ask your employer to break the CTC in most Tax efficient manner.

Invest In PF, Insurance, Pension funds etc.  These not only help saving taxes but provide security for future.

Should I file my Income Tax Return every year?

Read this!

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CA Pulkit Sharma

2013-08-06

CAn anyone provide the list of all exempted or partially exempted allowances and prequisites. Sorry but running sort of time. Its required for the template.

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Kavitha Ganapathy

2013-11-28

Hey pulkit, i can download the  zip file, but there is no content in it...

 

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Kavitha Ganapathy

2013-11-28

Hi,

Can you plz send me the Salary Breakup in Excel  file to my email id ASAP 

sumiponnappa@gmail.com

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CA Pulkit Sharma

2014-12-16

You can also download the file from my file Salary Breakup in Excel, just put the CTC

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