Academic MBA Question:
Question: The basis of charge under the head salary is different when compared with income from other various sources. Further, there are certain deductions under the Income tax Act which are available only to the salaried employees and which are in addition to the deductions under Chapter VI of the income tax Act.
Mention at least three of the deductions available to salaried employees with the maximum deductible amount for each of them. Also, discuss the conditions needed to be satisfied in order to charge any income under the salary head.
Academic Assignment Answer: