INCOME FROM SALARY

MODULE II
SALARY
 PROFIT IN LIEU OF SALARY
According to Sec. 17(3) It includes the
following:
The amount of any compensation due or
received by an assessee from his employer
or former employer at or in connection with
the termination of his employment.
The amount of any compensation due or
received by an assessee from his employer
or former employer at or in connection with
the modification of the terms and
conditions of employment.
PROFIT IN LIEU OF SALARY
Any payment due to or received by an
assessee from his employer or former
employer except the following:
Payment of gratuity exempted under sec.
10(10)
Payment of HRA exempted under
sec.10(13A)
Payment of commuted pension exempted
under sec. 10(10A)
Payment from an approved
superannuation fund under sec. 10(15).