In the interest of employee, some tips are given below. All
tips can not apply on all employees. It depends upon circumstances what
type of facility is given by your employer.
What does, however, ‘salary’ include? Salary includes basic
salary, bonus, wages, pension, fees, commission, gratuity, encashment of leave
salary, advances and arrears, profits in lieu of salary, allowances and
perquisites. Salary income is taxable in the hands of an individual in
the year of receipt or earning of salary income, whichever is earlier. Here are
some of the safe components of your salary structure which can minimse your tax
burden and help you plan your Salary Structure –
