take the example you are getting 3 LPA and it divided in 1 LPA and 2 LPA allowence Out of 2LPA its again divided in Conve/Travel allowence , medical allowence and other allowence Basic 1 LPA HRA 40000 peranum(for non metro city) Conve /Travel all 9600 peranum medical allowence 15000 per anum if u are paying rent of 50,000 per anum taxable income will be 300000 - (40000 15000 9600)= 235400 if you are saving 1 LPA in LIC etc 10,000in medical insurance 80D Taxiable income will be 235400 -110000 = 135400 Total Taxiable income = 135400 Tax calculation upto 1 Lac 0 % remaing you check slab and calculate
