Tag: Income Tax on Salary Income

Some employers provide medical reimbursement facility to their employees for the medical expenses incurred by the employees. This article explained the levy of Income Tax on Medical Reimbursement provided by...

There are various allowances exempt under Section 10 for Salaried Employees like House Rent Allowance, Leave Travel Allowance, Travelling Allowance, Uniform Allowance etc. We have already discussed the following allowances...

The Income Tax Act allows various Income Tax Exemptions for Salaried Employees which are very effective in saving taxes. A salaried employee would be required to intimate his employer that...

At the time of retirement of an employee, the employer pays the employee a certain amount regularly in consideration of his past service. This periodic payment is paid by the...

House Rent Allowance (HRA) is given by the employer to the employee to meet the expenses in connection with rent of the accommodation which the employee might have to take...

Any income received by an employee is chargeable under head “Income from Salaries” and tax on salary is levied in the manner as shown below. Income would be taxable under...

While an employee is in service, he is allowed various types of leaves like Medical Leave, Gazetted Holidays, Casual Leaves etc. There are some types of leaves which can be...

Many employers give Leave Travel Allowance (LTA) to their employees which can be claimed if an employee goes on a vacation. This Leave Travel Allowance (LTA) can be claimed when...