Characteristic of Salary:
--
-- Salary from more than one source during a tax year is taxable income.
Salary may be from former employer, present employer or prospective employer.
Salary may be from former employer, present employer or prospective employer.
No deductions are allowed under the head "Income from Salary"
In case of Tax Free Salary by the employer, the amount of tax paid by employer shall be added
back to employee's salary. It tantamount to Tax on Tax
Voluntary Payments Taxable
Tax year of a salaried Person shall be Normal Tax year
In case of Tax Free Salary by the employer, the amount of tax paid by employer shall be added
back to employee's salary. It tantamount to Tax on Tax
Voluntary Payments Taxable
Tax year of a salaried Person shall be Normal Tax year
Tax on salary income for Tax year 2009 (1st July 2008 to 30th July 2009) shall be computed
according to amendments as made by Finance Act, 2008.
Salary by members of AOP is not treated as Salary but treated as appropriation of profit and
charged under the head "Income from Business"
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█▓▒░ ADMIN HONEY G ░▒▓█
VU ASKARI TEAM
GUJRANWALA
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