Tag Archives: salary income

Salary Income -No Interest for defaults in payment of Advance Tax : Supreme Court

By | December 22, 2016

Held The provisions relating to payment of advance tax is contained in Part ‘C’ and interest thereon in Part ‘F’ of Chapter VII of the Act. In cases where receipt is by way of salary, deductions under Section 192 of the Act [i.e TDS ] is required to be made. No question of payment of… Read More »

salary income and Income Tax Questions

By | September 16, 2015

Income Tax on salary income ​What is considered as salary income? S​ection 17(1) ​ of the Income-tax Act defines the term ‘salary’. However, not going into the technical definition, generally whatever is received by an employee from an employer in cash, kind or as a facility [perquisite] is considered as salary. ​What are allowances in salary… Read More »