To my knowledge, Gross salary includes heads such as basic,
DA, special allowances, HRA, employers contribution to PF,
ESI, Gratuity and other monthly emoluments.
But CTC is Gross Salary + Bonus, Medical, LTA, and other
annual emoluments paid annually.
Gross Salary= basic+ DA+ special allowances+ HRA+CCA+ other
CTC = Gross Salary + Bonus + Medical + LTA+ other annual
emoluments paid annually
Gross salary includes Basic,DA,HRA,Medical Allowance, O.T &
all other allowances which are paid to an employee on
The deductions from the gross salary like
ESI,PF,Proffessional Tax, Loan, Salary advance etc.. is the
The annual benefits which the company provides like Bonus,
Ex gratia,Medical,LTA plus the salary what you get is the
I am a newly appointed consulting engineer to a coirporate
infrastructure company.I am offered a consultation fee of
Rs.!500000(fifteen lakhs) per annum.
My question is for the purpose of working out the income
tax what is the gross income.Is it the balance of the fee
received less the service tax paid ?