Basics of Income tax Act, 1961 (Related to Pay Slips)
September 18, 2019
1. Basic Salary This is a fixed component in your paycheck and forms the basis of other portions of your salary, hence the name. For instance, HRA is defined as a percentage (as per the company’s discretion) of this basic salary. Your PF is deducted at 12% of your basic salary. It is usually a […]
Save Taxes for Salaried Individuals
July 25, 2019
SECTION I – Understanding Your Payslip Basic Salary This is a fixed component in your pay check and forms the basis of other portions of your salary, hence the name. For instance, HRA is defined as a percentage (as per the company’s discretion) of this basic salary. Your PF is deducted at 12% of […]