Introduction The salaried employees are always in a frenzy about taxes and plans out ways to save it. The allowances and perquisites received by a salaried person is either fully taxable or partly taxable or exempt. The article below illustrates different ways in which salaried class can save their taxes. 1. Standard Deduction Standard Deduction,… Continue reading
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What is Form 16?
Form 16 is a certificate from the employer that has details of salary paid to an employee and tax deducted at source (TDS) from his or her salary for the financial year. It has to be issued by the Employer to the Employee under Section 203 of the Income-tax Act, 1961. It has two sections—part… Continue reading