13 June 2009
Taxable Salary means NOT the Actually Recd salary NOR CTC /Package salary. It depends on certain calculation as per income tax Act. like, The HRA is taxable upto minimum of 3 amounts, calculated as per the Act. Similarly, conveyance allowance is not taxable upto 800 per month, however you receive this from employer, and its included in CTC as well as take home.
in case of income tax, tax is levied on amount of salary due to employee not recd. while it may be possible that on certain contents your employer have to pay tax as FBT on Perqsites or fringe benefits and on other components you have to pay tax
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