GRADE PAY IN CASE OF GOVT EMPLOYEE WHAT DOES IT SIGNIFIES IN WHICH HEAD IT SHOULD BE ADDED ANY DEDUCTION ON THIS ?
3 Replies
C.A SHASHANK GOYAL
(Chartered Accountant)
(362 Points)
Replied 02 September 2011
Hi , I think you are asking the grade pay as like this : 20000-500-24000-400 , if this is your question then here is your answer to that :
If you join the organisation on 1.01.2011 at above scale then it means that you will be initially paid a sum of Rs 20000 and then next year your pay wll increase to 20500 and so on till you reaches to the level of 24000 and similiary increment of Rs 24400 and so on .
Point regarding taxability , it will be taxable under the head salary as normal salary is taxed
Plz correct me if I misunderstood .
CA ADITYA SHARMA
(CA IN PRACTICE )
(16719 Points)
Replied 02 September 2011
agree with SHASHANK GOYAL
Recent Topics
- FORM 10 IEA IN Revised return
- ITC Eligibility on GTA
- Top Highest Tax-Paying Celebrities: FY 2023-24
- Misplace society Bye law
- Submit ommited invoice of previous year
- Need your valueble insight
- GSTR-9 Invoices
- Agricultural Business Loss
- Reporting in gstr9 of ITC of Previous year reverse
- Tax on Reimbursement of House Rent
Related Threads
CAclubindia
