GRADE PAY IN CASE OF GOVT EMPLOYEE WHAT DOES IT SIGNIFIES IN WHICH HEAD IT SHOULD BE ADDED ANY DEDUCTION ON THIS ?
naman modi (Article) (111 Points)
02 September 2011GRADE PAY IN CASE OF GOVT EMPLOYEE WHAT DOES IT SIGNIFIES IN WHICH HEAD IT SHOULD BE ADDED ANY DEDUCTION ON THIS ?
C.A SHASHANK GOYAL
(Chartered Accountant)
(362 Points)
Replied 02 September 2011
Hi , I think you are asking the grade pay as like this : 20000-500-24000-400 , if this is your question then here is your answer to that :
If you join the organisation on 1.01.2011 at above scale then it means that you will be initially paid a sum of Rs 20000 and then next year your pay wll increase to 20500 and so on till you reaches to the level of 24000 and similiary increment of Rs 24400 and so on .
Point regarding taxability , it will be taxable under the head salary as normal salary is taxed
Plz correct me if I misunderstood .
CA ADITYA SHARMA
(CA IN PRACTICE )
(16719 Points)
Replied 02 September 2011
agree with SHASHANK GOYAL
CAclubindia
