Entire Salary is Basic and No HRA, Will it benefit me ?

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  1. rhnanu

    rhnanu New Member

    Hello Chartered Club,

    One of my friend recently got an job offer and his salary structure is like below

    Basic -Rs 2,00,000
    PF - Rs 700
    Medical insurance - Rs 1500

    N0 HRA in the salary structure.

    He has 80c upto Rs 1,50,000.

    Does getting entire salary under Basic will it benefit us ?
    Our guess is we have to pay a bulk amount in TAX.
    If yes, how to calculate the tax here ?

    Company is not ready split the Basic.
  2. sai tejesh(ca.final)

    sai tejesh(ca.final) Active Member

    Your friend's total income is within the basic slab of RS.250000/-.
    Hence there is no tax liability.

    Nothing is benificial if one's total income is within the slab.Instead, if total income is more and remit the taxes to that extent,he can avail loans from banks by showing his financial position.
    rhnanu likes this.
  3. rhnanu

    rhnanu New Member

    My bad, I didn't mention it clearly. The salary I said is per month.

    Basic -Rs 2,00,000 /Per month
    PF - Rs 700 /Per month
    Medical insurance - Rs 1500 /Per month
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