5. COMPUTATION OF INCOME UNDER THE HEAD “SALARIES”
5.1 INCOME CHARGEABLE UNDER THE HEAD “SALARIES”:
(1) The following income shall be chargeable to income-tax under the head “Salaries” :
(a) any salary due from an employer or a former employer to an assessee in the previous year, whether paid or not;
(b) any salary paid or allowed to him in the previous year by or on behalf of an employer or a former employer though not due or before it became due to him.
(c) any arrears of salary paid or allowed to him in the previous year by or on behalf of an employer or a former employer, if not charged to income-tax for any earlier previous year.
(2) For the removal of doubts, it is clarified that where any salary paid in advance is included in the total income of any person for any previous year it shall not be included again in the total income of the person when the salary becomes due.
Any salary, bonus, commission or remuneration, by whatever name called, due to, or received by, a partner of a firm from the firm shall not be regarded as “Salary”.
5.2 DEFINITION OF “SALARY”, “PERQUISITE” AND “PROFIT IN LIEU OF SALARY” (SECTION 17):
5.3 INCOMES NOT INCLUDED UNDER THE HEAD “SALARIES” (EXEMPTIONS)
5.4 DEDUCTIONS U/S 16 OF THE ACT FROM THE INCOME FROM SALARIES
5.5 DEDUCTIONS UNDER CHAPTER VI-A OF THE ACT
See Other parts of IT Circular 20/2015 at:
Income Tax Deduction from Salaries during FY 2015-16 AY 2016-17: Circular No. 20/2015
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