Income from Salary: Income Tax Act, 1961

Authors

  • Divya Jain Student

Abstract

This submission has been made to have a better understanding of Income from Salary as a source of income. In the course of the submission the meaning of income from salary is dealt along with its computation. Further, the important provisions relating to the computation of income from salary under Income Tax Act, 1961 have been discussed. The important provision of the concerned statute includes Section 15 which deals with the Basis of Charge, Section 16 dealing with deductions and Section 17 dealing with the constituents of salary which are divided into three heads i.e., income from salary, allowances and perquisites.

Published

2021-06-29