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
Contents
Financial Ratios Accounting Cycle Accounting Principles Financial Accounting Basics Financial Statements Reporting Bad Debts Current Assets Long-term Assets Voucher System Partnership Depreciation Work Sheet - 10 Column Work Sheet Difference Between Reserve and Fund Accounting for Leases Capital reduction and reconstruction Absorption of Company Amalgamation Accounting for Installment Sales Basis of Recording Profit and Loss Branch Accounting Construction Contracts Revenue Recognition Accounting for Groups Financial Analysis Events After the Balance Sheet Date Deferred Tax Cost Accounting Activity Based Costing (ABC) Throughput Accounting Relevant Cost Break Even Analysis Standard Costing Inventory Management Payroll Accounting Royalty Accounting Statistics Master Budget Salary Income Director Fees Perquisites Tax Credits or Rebate on Salary Income Value of Donation in Kind Tax Credit or Rebate for Investment in Shares Tax Credit for Investment in Health Insurance Head of Income in Income Tax Tax on Profit on Debt Tax Credit on Education Expenses Tax on Share of Profit from AOP Income from Property Tax Rates Self Hiring Rent Income from Property Tax Tax on Rent Deposit Rent Income from Agricultural Purpose Loss from Income from Property Microsoft Excel Tutorial Other Topics Share or Stock Valuation Model Financial Management Topics Kinds of Endorsement Letter of Credit, Kinds and Its Advantages/ Utilities Modern Functions of a Commercial Banks Difference Between Secured And Unsecured Loan Excel conditional formatting red if negative green if positive How to Remove Extra Spaces in Excel Result Card or Result Sheet Creation Using Excel