05 September 2012
"If an employee opts to surrneder his salary to the central government under section 2 of the voluntary surrender of salaries Act, 1961, the salary so surrendered would be excluded while computing his taxable income." *my question is employee apni salary surrender kyu karega? *what should be reason behind it? Thanks to expert.
06 September 2012
When there is a specific instruction from the employer than all the employees have to surrender there salaries. But mostly,salary of a single day is surrendered that too for a noble cause.(so it don't pain that much..) Such surrendered salary is than donated by the employer in the account of central govt/state govt for any drought relief/earthquake relief etc. I still remember a incidence when the whole of railway employees surrendered there one day salary for such cause.
CAclubindia
