Tax Planning

Will the proposed FBT change reduce your take home pay?

Join The Discussion Now
Visit Tax Planning Forum and get expert advice on income tax calculations, slabs and rules.

Tax

print Email

What are the different incomes taxed under the head "Salaries"?

There are three different incomes taxable under the head Salaries:

  1. Salary Due: Any income due from an employer to an employee, whether paid or not. This is also true if the income is due from a former employer.
  2. Advance Salary: Any salary paid by an employer to an employee even though it was not due or was paid before the due date. This is also true if the advance salary had been paid by a former employer.
  3. Arrears of Salary: Any arrears of salary paid to an employee by an employer, for which income tax had not been previously deducted. This is also true in case the arrears are paid by a former employee.



Browse All Categories :

Tax Filing Income from Salaries Tax Deduction

Comments
post new comment      Ask a question