Showing posts with label what Are All The Income Subjected To Income Tax Under The Head Salaries ? Form 10E. Show all posts
Showing posts with label what Are All The Income Subjected To Income Tax Under The Head Salaries ? Form 10E. Show all posts
Sunday, 27 January 2019
What are all the Income under the head Salaries in the case of a Salaried Employee (Section 17 of the Income Tax Act 1961)?
Wages, fees, commissions, perquisites, profits in lieu of, or, in addition to salary, the advance of salary, annuity or pension, gratuity, payments in respect of encashment of leave etc.
Contributions made by the employer to the account of the employee in a recognized provident fund in excess of 12% of the salary of the employee, and interest thereof.
The contribution made by the Central Government or any other employer to the account of the employee under the New Pension Scheme
What are all perquisites that subjected to income tax?
The value of rent-free accommodation or rent.
The amount of any contribution to an approved superannuation fund by the employer in respect of the assessee, to the extent it exceeds one lakh and fifty thousand rupees
Prerequisite on Motor car provided by the Employer
The value of free service provided by the employer in the form of Personal Attendants etc.
Gas, Electricity, and water for household consumption
Free or concessional Education
Interest-free concessional loans
Travelling and accommodation Expenses paid by Employer for any holiday availed by an employee
Membership fee, Club expenditure etc
Any Gifts or transfer of Assets
Medical reimbursement by the employer subject to certain conditions
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