clarification on some terms in salary

Mohit Sharma (CA Final & CS Executive) (69 Points)

10 January 2010

I want to know that what is the meaning of grade pay,B. R. Allowance, and what is the treatment of all these earnings in income tax.

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3 Replies

Amir (Learner) (4016 Points)
Replied 11 January 2010

Dear Mohit,

As per Income tax there is no special treatment for"Grade Pay", i:e Entire amount is Taxable.

ALL other Allowances except those mentioned in Sec 10 are fully taxable...

PANKAJ SHARMA (ACCOUNTS MANAGER) (79 Points)
Replied 12 January 2010

Mr. Aamir is right

Mohit Sharma (CA Final & CS Executive) (69 Points)
Replied 21 January 2010

thanks Mr. AMir

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