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Concepts · CA Intermediate/Taxation (Income Tax + GST)

Taxation (Income Tax + GST)

Ch 2 · Income from Salary (Sec 15-17)

5 concept points · 3 formulas · 4 exam-critical points.

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Concept
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Chart Summary
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Formula Sheet
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Important Points

⭐ Important points (exam-critical)

  • ⭐New regime (Sec 115BAC) default from AY 2024-25; opting out via Form 10-IEA.
  • ⭐Leave encashment on retirement: non-govt limit ₹25 lakh (raised in Budget 2023).
  • ⭐Employer's contribution to NPS (Sec 80CCD(2)): 14% of salary for govt employees, 10% for others.
  • ⭐Reimbursement vs Allowance distinction critical for taxability.

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