Published Jul 12, 2022
2 mins read
406 words
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Economics

Salary Income Rendering To Persons

Published Jul 12, 2022
2 mins read
406 words

The largest number of people paying taxes false under This particle head salary with it grammatical variation and multiple explanation salary is one which is received by an employee from a employer for the service rendered in our Indian structure we can differentiate salary and wages based on the nature of performed periodicity of receipt normally salary is a term we associate with the white collarged job wages for blue collarge job salary is paid monthly various wages made being weekly or on the basis of production but Income Tax law does not distinguish these terms by whatever name it is called if it is paid to an employee for the service it is termed as salary for the income tax salary they should be an employer employee relationship between the pair and the receiver employer employee regulation shift is close to that of Master servant relationship between principal to principal that is pension received by family member after death of an employee remuneration paid to High Court or Supreme Court Judges are the few test for relationship full time or part time employment it does not matter whether the employee is the full time or part time employee once the relationship of employer employee is established it is taxable as salary for going of salary once salary occurs the subsequent by the employee does not absolve him from his liability to pay tax bases of charges or on receipt bases paid in April still for the purpose of income tax that's act the same becomes taxable in the month of March itself similarly if in March the month of March and employee receives salary advance the same becomes taxable in March once start it cannot be taxed in the year of receipt or due surrender of salary as explain about even if the employee for go or surrender salary it is taxable however in the case of Central Government employees if they surrender under voluntary surrender rules formed for this purpose then such salary is not taxable arrears of salaries should not be confused with salary due arrears of salary imply increase in salary with retrospective effect this is taxable in the year in which the increase is agreed upon or benefited upon. Hope my blog was useful and gave you information regarding the income.i will be soon back with another interesting and informative blog. 

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