Taxable Salary

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Bharati Sharma (Querist)
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13 June 2009 Dear Experts,

Plz suggest - Taxable Salary - Actually Recd OR CTC /Package fied by the co. (if)

Actaul recd is less than the fixed salary due to late kark deduction / leaves..

Thanks for support.
Bharati Sharma

CA. Dashrath Maheshwari

CA. Dashrath Maheshwari (Expert)
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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.

vinod kumar lalwani

vinod kumar lalwani (Expert)
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13 June 2009 hi

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

so your as per above your salary will be taxable.

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