I have received salary as basic salary- 2,50,000/-, DA- 60,000/- less deductions - NPS- 15000/-,Insurance-25000, income tax-2060, Prof tax- 1200, water and electricity- 2500..Thus net salary as per salary slip is 2,64,240/-
my query is wht is taxable income form salaries?
Whether NPS, Prof tax, Insurance, water and elec is contributed by employer or by me..
in my opinion it is contributed by me as it has been deducted from my salary.
so my taxable salary sd be 3,10,000/-..
and rest are deductions from salary that can be allowed as deduction in income tax.
hence net taxable salary sd be net salary only i.e. 264240..
am i right?
Posted 3 years, 11 months ago by Anil Patra
You salary slip is correct. If this is your annual statement, I will advice you to file your income tax returns and take the refund of tax deducted.
Rebate of Rs. 2,000 is not included in your computation.
Posted 3 years, 11 months ago by Rahul Rai
I ll advise you to file your ITR Retunrs as per you income ..
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Posted 3 years, 11 months ago by AMARNATH M
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