Salary Structure as per Income Tax Rule for year 2020-21

What will be the structure of Salary and allowances according to Income Tax Act for Financial Year 2020-21?
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Quick Summary
This discussion clarifies the salary and allowances structure according to the Income Tax Act for the Financial Year 2020-21. It highlights that two computation schemes are available for FY 20-21. The advice given is to clarify whether the query is from an employer's or an employee's viewpoint before proceeding.

For FY 20-21 we have two computation scheme...!

Can You ask before that consideration...
Are You asking the question as employer's view or employee's view...?!

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