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Deductions under the head Salaries – Section 16

Deductions under Salaries Deductions under the head Salaries are updated for June 2023 and Dec 2023 Exams. These notes are beneficial for CS Executive New Syllabus of ICSI.   Deductions from salaries or statutory deductions under the head salaries (Section 16) Under Section 16 of Income Tax Act, 1961 only 3 deductions are allowed from the …

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tax treatment of allowance

Tax Treatment of Allowance – Income Tax

Tax treatment of Allowances Tax treatment of Allowances are updated for June 2023 and Dec 2023 Exams. These notes are beneficial for CS Executive New Syllabus of ICSI.   What are allowances? Allowances are benefits payable in cash by employer to employee for some specific purpose (personal or official) without the concern whether the employee is …

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