FAQs on Salary Income

Chapters / List

1. What is considered as salary income?

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2. What are allowances?

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3. My employer reimburses to me all my expenses on grocery and children’s education. Would these be considered as my income?

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4. During the year I had worked with three different employers and none of them deducted any tax from salary paid to me. If all these amounts are clubbed together, my income will exceed the basic exemption limit. Do I have to pay taxes on my own?

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5. Even if no taxes have been deducted from salary, is there any need for my employer to issue Form-16 to me?

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6. Is pension income taxed as salary income?

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7. Is Family pension taxed as salary income?

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8. If I receive my pension through a bank who will issue Form-16 or pension statement to me- the bank or my former employer?

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9. Are retirement benefits like PF and Gratuity taxable?

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10. Are arrears of salary taxable?

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11. Can my employer consider relief u/s 89 for the purposes of calculating the TDS from salary?

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12. My income from let out house property is negative. Can I ask my employer to consider this loss against my salary income while computing the TDS on my salary?

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13. Is leave encashment taxable as salary?

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14. Are receipts from life insurance policies on maturity along with bonus taxable?

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15. What is the taxability of ex-gratia received from employer?

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16. Where is House Rent allowance (HRA) to be reflected while filing income-tax return (ITR)?

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17. What is the taxability of House Rent allowance (HRA)?

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18. What is the taxability of Fixed Medical allowance?

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19. What is the taxability of Conveyance allowance?

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20. Is standard deduction applicable to all the salaried person whether he is an employee of Central or State Government?

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21. Is transport allowance can be claimed as exemption by an employee?

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22. Is standard deduction applicable to family pensioners?

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23. Mr. X having Gross Salary of Rs. 7,00,000 during the previous year 2022-23. Compute the standard deduction allowable to him?

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24. What is Form 12BB?

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25. When relief under section 89 of the Income Tax Act is available?

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26. What is the effective date of enhancement of limit of gratuity from Rs 10 lakh to 20 lakh for purpose of tax exemption computation under section 10(10)(ii)?

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