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30 Salary

30 Salary

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Published by Bahi Rathan R

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Categories:Types, Brochures
Published by: Bahi Rathan R on Sep 18, 2010
Copyright:Attribution Non-commercial

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04/28/2011

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BASIC SALARY
Dearness Allowance (D.A.)
Commission
Bonus
Gratuity
Leave Salary Encashment
Pension
Retrenchment Compensation
VRS
Other Receipts in lieu of Salary
Allowances
Perquisites
 
Income from Salary
Gross Salary[As per defination u/s17(1)]
Basic Salary+Taxable portion of gratuity,pension,LTC,etc+Taxable portion of allowances+Taxable portion of perquisites+Profit in lieu of Salary+Taxable portion of contribution to RPF made by employer 
GROSS SALARY
Less:Deduction u/s 1616(ii) Entertaintment Allowance16(iii) Professional Tax
INCOME FROM SALARY
 
Deductions u/s 16
Entertainment allowance
This allowance is applicable to central & state governmentemployeesDeduction: Lease of following1.50002. 20% of Basic Salary3.Amount Actually received
.Professional Tax[Sec 16(ii)]
Deduction is amount actually paid during the previous year 

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