চাকরি হইতে আয়

(1) Subject to the provisions of sub-section (2), the following incomes shall be included in income from employment, namely:

(a) Any kind of financial receipt, salary, and benefits received or receivable from employment;

(b) Income earned from the employee share scheme;

(c) Arrears of salary on which tax has not been imposed; or

(d) Any amount or benefit received from any past or future employer.

(2) The following receipts shall not be included in income from employment, namely:

(a) Any amount received for the treatment of heart, kidney, eye, liver, and brain-related operations, artificial organ transplantation, and cancer-related treatments of an employee (who is not a shareholder director);

(b) Travel allowance, travel expenses, and daily allowance received and spent solely and exclusively for discharging the duties of employment; or

(c) Premium paid by the company to an insurance company on behalf of any employee for group insurance.

Explanation. —For the purposes of this section:

(a) “Salary” means any amount of any nature received by an employee from employment, and shall include the following, namely:

(i) Any salary, wage, or remuneration;

(ii) Any allowance, leave allowance, leave encashment, bonus, fee, commission, overtime;

(iii) Advance salary;

(iv) Gratuity, annuity, pension, or any supplement thereof;

(v) Perquisites;

(vi) Receipt in lieu of salary or in addition to salary;

(b) “Receipt in lieu of salary” or “receipt in addition to salary” shall include:

(i) Any compensation received due to termination of employment, by whatever name called;

(ii) Any portion of the provident fund or any other fund except the part contributed by the employee;

(iii) Fair market value of any amount or benefits received due to change in terms and conditions of employment contract;

(iv) Fair market value of any amount or benefits received at the time of joining employment or under any other terms of employment;

(c) “Perquisite” means any kind of payment or benefit, including incentive bonus, given by the employer to the employee, but the following payments shall not be included therein, namely:

(i) Basic salary, arrear salary, advance salary, festival bonus, leave encashment, and overtime;

(ii) Contributions to recognized provident fund, approved pension fund, approved gratuity fund, and approved superannuation fund;

(iii) Premium paid by the company to an insurance company on behalf of any employee for group insurance;

(d) “Basic salary” means the monthly or other form of salary on the basis of which other allowances and benefits are determined, but shall not include the following allowances or benefits, namely:

(i) All kinds of allowances, perquisites, annuity, bonus, and benefits; and

(ii) Contributions made by the employer to various funds of the employee;

(e) “Employer” means the person who makes the appointment and pays the salary and allowances, or any person who performs such duties on behalf of the employer shall also be deemed to be the employer.

Comment :