- Advertisement -
- Advertisement -
Here are six benefits that can help the salaried bring down the taxable component of income from the employer.
Salaried taxpayers are eligible for many tax-advantaged benefits. Here are six benefits that can bring down the taxable component of the income from employer.
- Leave travel assistance (LTA)
This is a reimbursement of expenses incurred on travel during a vacation. It is tax free if claimed twice in a block of four years.
- NPS benefit
Under Sec 80CCD(2), up to 10% of the basic put in the NPS by the employer is tax deductible. This is over and above the deduction claimed under 80CCC and 80CCD(1b) for contributions to the NPS.
- Fuel and vehicle expenses
Insurance and maintenance of car and driver salary add a nominal Rs 1,600 and Rs 900 to taxable salary. Car can be for official and personal use but fuel expenses reimbursed only if used for work. - Newspapers, books magazines
The money spent on newspapers, books and magazines can be claimed as a tax-free reimbursement. This requires submission of actual bills. Telecommunication bills
Telephone and internet expenses can also be reimbursed to the employee against submission of actual bills. This is also a tax-free perk.
- Food coupons
Many companies offer food coupons to their employees. These coupons can be used to buy food items and nonalcoholic beverages from specifi ed outlets.
