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Profits UNDER HEAD "SALARIES" CS EXECUTIVE TAX LAWS 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.   The remuneration earned by a person, in any form whatsoever, is regarded as a salary only if the relationship between the payer and the payee is between the employer and the employee or the master and servant. As far as the existence of the persons covered by the head salary is concerned, the employer may be an entity, a company, an association of persons, a company, a corporation, a central government, a government agency, a public body or a local authority, etc., probably operating in or outside India. As far as the worker is co