1. #1
    Unregistered

    How much investment proof to be shown for 2.5 Lakhs as CTC?

    Can you all please tell me how much investment proof should be shown for 2.5 Lakhs as CTC? What all can be shown for it? Can I submit my educational loan? Please give the required details as soon as possible.

  2. #2
    SKS Array
    Join Date
    Sep 2012
    Posts
    331

    Re: How much investment proof to be shown for 2.5 Lakhs as CTC?

    Individuals whose Income is upto Rs 2 lakhs will not have to pay any tax on Rs 2 Lakhs
    Income between Rs 2 Lakhs to 5 lakhs will have a Tax rate of 10%

    In your Case your Taxable income will be Rs 50 thousand
    So total Tax will be Rs 5000

    You can show investment proof of Rs 50 Thousand to get the exemption of income tax.
    Investment prrof will also include the PF amount that is deducted each month
    As Invest proof, you can depoit the Premiums recipt of Life Insurance Policies, Health insurance policies
    You can also show deposits made to Public Provident Fund (PPF)

  3. #3
    Mahesh.423 Array
    Join Date
    Mar 2013
    Posts
    25

    Re: How much investment proof to be shown for 2.5 Lakhs as CTC?

    Hi friend,

    Income tax may vary from one to one based on their salary. For individuals whose income is less than 2lakhs there might be no tax. Income earned after 2lakhs will be taxable.


    In your case 50 thousand is the taxable income. You are under 10% slab. So you have to pay 5000 as tax. But you can get tax exemption by providing investment proofs like LIC premium and pf etc.

    Hope this helps you.

  4. #4
    anupsahu Array
    Join Date
    Apr 2013
    Posts
    106

    Re: How much investment proof to be shown for 2.5 Lakhs as CTC?

    Hi,,


    Every individuals whose income is less than 2lakhs there might be no tax. Income earned after 2lakhs will be taxable.

    in your case 50000 is taxable income but as per my knowledge you can show HRA amount under the tax proof and you EPF is also not taxable.

    so IF you are earning 250000

    The equation will be like this : your monthly salary will be 21000

    Basic
    if Basic is 6600
    3300(HRA)
    720(EPF)
    5000 (personal allowance)
    800(Convenience)
    4580 (variable pay)

    then the final calculation will be 250000-200000=50000- 39600(HRA) - 8640(EPF)- 9600(convenience charges)

    so there is no tax on your income.

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