WebAs per Section 17 (2) of the IT Act, 1961, ‘salary’ is a regular payment that is given to the employee by the employer. It is a composition of basic salary allowances. There are … WebSalary income of an employee is to be computed in accordance with the provisions laid down in sections 15, 16 and 17. Section 15, ... Section 17(1) defines the word ‘salary’ as mentioned in section 15. Section 17(2) and 17(3) further define the terms ‘Perquisites’ and “profits in lieu of salary”.
Perquisites In Income Tax: Section 17(2) of The Income Tax Act
WebMay 24, 2024 · Meaning of “Salary” Under Section 17 (1) Section 17 (1) of the ‘Salary’ includes wages, advance of salary, commission, fees, and any profit instead of salary or … WebApr 29, 2024 · Section 17 (1) – Definition of Salary under the Income Tax Act Introduction. A salary is a form of fixed compensation given to a person for performing work during a specified period. Definition of Salary as per Income Tax Act. Sub-section (1) of Section 17 … ITR Filing for FY 2024-23 (AY 2024-24): e-Filing of Income Tax Returns online made … pstake token
Salary Income and Tax Implications For AY 2024-22
WebMay 24, 2024 · Meaning of “Salary” Under Section 17 (1) Section 17 (1) of the ‘Salary’ includes wages, advance of salary, commission, fees, and any profit instead of salary or wage as provided by an employer to an employee. This is only applicable to an employee-employer relationship. For example, if you receive your salary as a partner in a ... WebGet access to the latest Income from SALARIES:- Sec 17(2)- PERQUISITES (Part 1) (In Hindi) ... Income from SALARIES:- Section- 15, 16 of Income Tax Act, 1961 (In Hindi) 14:53mins. 15. Income from SALARIES:- Section- 17 of Income Tax Act, 1961 (In Hindi) 15:00mins. 16. Web17 5. Definition of Specified Employee 27 6. Meaning of an Allowance 28 7. Example on salary 35. 1 1. ... or benefit attached to an office or position in addition to salary or wages. “Perquisite” is defined in the section 17(2) of the Income tax Act as including: (i) ... 10% of salary in cities where population as per 2001 census is exceeding pssyha