The first head under the Income Tax is income under the "Salaries" head. Salaries is the one that has various components and associated computations in calculating the taxable income under the head relative to the other head in the Income Tax. Let's delve into knowing the definition of wages, what salary, salary allowances, retirement benefits, leave cash and salary criteria entail. MEANING OF SALARY Salary is the remuneration that a person receives or accrues for service rendered by an express or implied contract, and where such remuneration is periodic. The presence of an employer-employee relationship is the most basic aspect under the heading "salaries" for taxing a specific receipt. Salary is the remuneration that a person receives or accrues for service rendered by an express or implied contract, and where such remuneration is periodic. The presence of an employer-employee relationship is the most basic aspect under the heading "salaries" for ta...
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