Salary Income

Salary means any amount received by the employee from its employer and includes:

  1. Pay, wages
  2. Allowances such as cost of living, rent, utilities, entertainment allowance, Kit/ Uniform allowance
  3. Perquisites - expenses incurred by employee which are later reimbursed by the employer,
  4. Annuity or pension
  5. Profit in lieu of salary
  6. Employee share scheme