Commercial's Computation of Income From Salary As Amended by The Finance Act, 2025
 

Commercial's Computation of Income From Salary – 11th Edition, 2025 is a precise and practical guide that provides detailed insights into the calculation of salary income and related tax implications under the Income-tax Act, 1961. This edition, updated as per the latest amendments introduced by the Finance Act, 2025, offers readers a comprehensive breakdown of salary components, exemptions, deductions, and perquisites with illustrative examples for easy understanding.

Designed specifically for tax professionals, salaried individuals, payroll managers, HR professionals, and students of taxation, the book explains the intricate provisions related to salary taxation in a clear, practical, and application-based manner. It also addresses the Old Regime and New Tax Regime (Section 115BAC), helping taxpayers make informed choices.

Key Features:

• Detailed Coverage of Salary Components: Includes treatment of basic salary, DA, HRA, leave encashment, gratuity, bonus, pension, perquisites, and other allowances with explanations and taxability status.

• Updated for Finance Act, 2025: Incorporates all recent changes in tax rules, slabs, exemptions, and rebate limits applicable for Assessment Year 2025–26.

• Old vs. New Tax Regime Comparison: Provides a comparative analysis to help taxpayers choose the most tax-efficient option under Section 115BAC.

• Practical Illustrations & Computation Examples: Features step-by-step calculation examples, including complex scenarios to ensure clarity in real-life applications.

• Coverage of Perquisites & Valuation Rules: Explains taxation of employer-provided benefits, including housing, vehicles, loans, stock options, ESOPs, etc., as per Rule 3 of Income Tax Rules.

• Deductions & Exemptions Explained: Discusses relevant sections such as 10(13A), 10(14), 16(ia), 80C to 80U, including how to structure claims for maximum benefits.

• TDS on Salary (Section 192): Guides on computation, deduction, deposit, and return filing related to Tax Deducted at Source on salaries with employer responsibilities.

• Useful for Employers & Employees Alike: Helps employers manage compliant payroll systems and enables employees to verify and plan their tax liabilities accurately.

Why This Book is Essential:

• Focused on Salary Income Only: Dedicated guide for computation of salary income, eliminating the need to sift through general taxation books.

• Ideal for Payroll & HR Professionals: Assists in building a tax-efficient salary structure while ensuring statutory compliance.

• Updated and Practical: Reflects the latest Finance Act updates, with a focus on application, interpretation, and common challenges.

• Exam and Practice-Oriented: An excellent resource for CA, CS, CMA, and taxation students, as well as for use in corporate tax and HR departments.

• Enhances Salary Tax Planning: Supports better understanding and utilization of available exemptions, deductions, and salary restructuring opportunities.

Commercial’s Computation of Income From Salary – 11th Edition, 2025 is an indispensable reference for accurately calculating, managing, and planning tax on salary income, offering clarity and compliance for all stakeholders involved in income from employment.