Computation of Income From Salary

Chapters

1. Introduction…………………………………………………………………………………….. 1
2. Essential Characteristics of Salary …………………………………………………… 6
3. Different Forms of Salary ………………………………………………………………. 10
4. Exempted Salary……………………………………………………………………………. 15
5. “Income” Includes [Section 2(24)]………………………………………………….. 18
6. Scope of Total Income [Section 5] ………………………………………………….. 19
7. Deemed to be Received [Section 7]………………………………………………… 22
8. Income Deemed to Accrue or Arise in India [Section 9]…………………. 26
9. Basis for Charging Income Under the Head ‘Salaries’
[Section 15] ……………………………………………………………………………………. 29
10. Deductions From Salaries [Sections 16(ia), 16(ii), 16(iii) & 24(b)] …… 40
11. Meaning of Salary [Section 17(1)] ………………………………………………….. 44
12. Perquisites [Section 17(2)] ……………………………………………………………… 51
13. “Profits in Lieu of Salary” includes [Section 17(3)] ………………………… 98
14. Salary not Treated as Income Under the Head ‘Salary’………………… 107
15. Incomes which do not Form Part of Total Income [Section 10]…….. 113
16. Treatment of Retirement Benefits ………………………………………………… 145
17. Treatment of Various Allowances ………………………………………………… 164
18. Treatment of Various Funds ………………………………………………………… 176
19. Treatment of Salary of Foreign Citizen ………………………………………… 183
20. Deductions to be From Gross Total Income of Salary
[Sections 80C to 80U] …………………………………………………………………… 187
21. Taxation of Pensioners …………………………………………………………………. 269
22. Rebate of Income-tax in Case of Certain Resident Individuals
[Section 87A] ……………………………………………………………………………….. 290
23. Rebate when Salary, etc., is paid in Arrears or in Advance
[Section 89]………………………………………………………………………………….. 295
24. New Regime – Lower Tax Rate Option [Section 115BAC]…………….. 303
25. Tax Deduction at Source from Salary [Section 192]………………………. 319
26. Computation of Salary Income…………………………………………………….. 342
27. Income Tax Rates (From Assessment years 2017-18 to 2026-27)…… 348
28. Important Forms………………………………………………………………………….. 360