is income tax charged on gross pay or net pay ...?
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Income tax
Replies (8)
net 0ay
On Net Pay (Income)...
net pay only
net pay only
TAXBLE INCOME (FOR TAX COMPUTATION)=
GROSS INCOME -ALL EXEMPTION -ALL DEDUCTION
net pay Nil
YOU MEAN YOUR INCOME AND EXPENSES IS SAME AMOUNT ?
| Originally posted by : Abhimanyu Sharma | ||
 |
is income tax charged on gross pay or net pay ...? |  |
Dear Abhimanyu,
Income tax is always charged on gross pay (Gross salary)
However, you can claim benefits of deductions u/s 80C to 80U
means
Gross pay
Less: Deductions
Taxable salary
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