What are the deductions under salary head? Name the items.
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Answer / Abhishek Raghav
Deductions under the Salary Head in India include:
1. House Rent Allowance (HRA) - If you live in a rented accommodation and receive HRA as part of your salary.
2. Medical Allowance - Deduction can be claimed if you pay for medical expenses out of your own pocket.
3. Transport Allowance - If your employer provides transport facilities, the allowance may be tax-exempt up to a certain limit.
4. Leave Travel Allowance (LTA) - Deduction is allowed every 2 years when you travel on leave.
5. Meal vouchers or Tiffin Allowance - If your employer provides meal vouchers or tiffin allowances as part of your salary, they are tax-exempt up to a certain limit.
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