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What is Understanding Salary Income Tax about?

Income received from salary is taxable under the head "salary" if there is an employer-employee relationship. For taxation purposes, salary includes wages, pension, annuity, gratuity, fees, commissions, perquisites, and more. It will be taxed on a due or receipt basis, whichever is earlier. Various deductions are available against salary income such as entertainment allowance, professional tax paid, and more. The definition of salary and perquisites is broadly defined to cover various salary components and

Author

NITESH SINGH

Language

EN