Computation of Income From Salary

This 2025 Edition of Computation of Income from Salary under Income Tax Law with Tax Planning by Ram Dutt Sharma is a detailed and practical guide to understanding salary income, related exemptions, deductions, and planning opportunities, fully updated with the Finance Act, 2025.

The book provides clear explanations and illustrations on the computation of salary income under the Income-tax Act, 1961, incorporating the latest amendments, CBDT notifications, and judicial pronouncements. It is designed to serve both practitioners and taxpayers by simplifying complex provisions and offering practical computation methods.

Key highlights include:

• Detailed provisions relating to salary income under section 15 to 17 of the Income-tax Act

• Explanation of perquisites, allowances, retirement benefits, and employer contributions

• Taxability and exemptions for HRA, leave encashment, gratuity, pension, VRS, and other benefits

• Computation of taxable salary with worked-out examples and case studies

• Deductions available under Chapter VI-A relevant to salaried individuals

• Guidance on Tax Deducted at Source (TDS) from salaries under section 192

• Tax planning strategies for salaried taxpayers within the legal framework

• Incorporation of changes brought in by the Finance Act, 2025

• Analysis of relevant CBDT circulars, notifications, and case laws

This edition is particularly useful for:

• Chartered accountants, tax practitioners, and HR/payroll professionals

• Salaried taxpayers seeking to optimise tax liability

• Academicians and students specialising in direct tax laws

• Corporate finance and HR departments handling employee taxation

By blending statutory provisions, judicial interpretations, and practical computation techniques, this book acts as a comprehensive and ready reference on salary taxation in India.