Vijay and Income Tax Explained | Tamil | Madan Gowri

9 months ago
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In this video we are answering the basic questions like, What is an income tax? Who should pay income tax? What does the income tax department do?

The amount received by you from your employer every month comes under the head income from salary. As per law, employer-employee relationship is must to consider the amount as income from salary else it will be considered under other head and therefore exemptions, allowances available to a salaried individuals will not be available.
The amount of your Salary includes basic pay, dearness allowance, medical, transport, annuity, gratuity, advance of salary, allowances, commission, perquisites in lieu of salary and retirement benefits etc.; The aggregate of the above incomes, after the exemptions but before the deductions, is known as Gross Salary and this is charged under the head income from salary. (you can refer to column no. 6 of your Form- 16 to know your taxable salary amount)

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