Computation of Income from Salary Under Income Tax Law with Tax Planning (Special Features about Pensioners)

As Amended by Finance Act, 2023
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Description
'Income from Salary' is one of the important heads of income under the Income Tax Act, 1961. Salary taxpayers are amongst our most educated and conscientious taxpayers. Lack of awareness amongst them is often cited. They have been in particular, keen to know about the exemptions, reliefs and deductions available to them. The provisions regarding salaries are as much subject to instability as other provisions in the income tax law by way of statutory amendments, instructions, circulars issued from time to time and the ever flowing precedents from the courts and the Tribunal. All these have been discussed in this book. This book is an attempt to help the salary taxpayers by explaining the provisions relating to calculation of income from Salary in an easy-to-understand language. The amendments made by the Finance Act, 2022 have been incorporated at appropriate places in this book. I would like to place on record a special note of gratitude to Sh. Ashok Kumar Manchanda, IRS (1976 - Batch) who has been a constant source of inspiration in my life. I also express my thanks to Commercial Law Publishers (India) Pvt. Ltd. who reposed confidence in me and published Eighth Edition of this book. They have done a good job in making this book attractive, acceptable and useful.

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Contents
Chapter 1 Introduction
Chapter 2 Essential Characteristics of Salary
Chapter 3 Different Forms or Salary
Chapter 4 Exempted Salary
Chapter 5 "Income" Include [Section 2(24)]
Chapter 7 Deemed to be Received
Chapter 8 Income Deemed to Accrue or Arise in India
Chapter 9 Basis for Charging Income Under the Head 'Salaries' 
Chapter 10 Deductions from Salary
Chapter 11 Meaning of Salary
Chapter 12 Prequisites
Chapter 13 Profits in Lieu of Salary
Chapter 14 Salary not Treated as Income Under the Head 'Salary'
Chapter 15 Income which do not from Part of total Income
Chapter 16 Treatment of retirement Benefits
Chapter 17 Treatment of Various Allowances
Chapter 18 Treatment of Various Funds
Chapter 19 Treatment of Salary of foreign citizen
Chapter 20 Deduction from Gross Total Income of Salary
Chapter 21 Taxation of Pensioners
Chapter 22 Deduction from Tax Liability
Chapter 23 New Regime-Lower Tax Rate Option
Chapter 24 Tax Deduction at Source from Salary
Chapter 25 Computation of Salary Income
Chapter 26 Income Tax Rates
Chapter 27 Important Forms
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Author Details
Ram Dutt Sharma, got his post-graduation (M.Sc.) from M.D. University, Rohtak in 1980. He joined the Income-tax Department in the year 1983 and presently working as Income Tax Officer in Faridabad. He worked at various stations of North-West Region of Income Tax Department. He has wide experience of all wings of Income Tax Department such as assessment unit, Special Range, TDS Wing, Investigation Wing, Intelligence and Criminal Investigation etc. He has been contributing articles and addressing on topics relating to Income Tax at Direct Tax, Regional Training Institute, Chandigarh. He has also addressed number of seminars organized by the Income-tax Department, Chartered Accountants, Advocates and various Trade Associations. He is the author of number of books on direct taxes, namely Computation of income from salary under income tax law with tax planning, Computation of income from house property, Formation and Management of Charitable and Religious Trust, Educational and Medical Institutions under income-tax law, Taxation of Non-Resident Indians under income-tax law etc. which have been highly appreciated by the readers.
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