Restructuring Components of Salary for Tax Planning- a Case Study

Abstract

In this case study, taxation aspect in our country is considered, particularity the Income Tax on salary. As per the verdict of Supreme Court in a case, "An assessee can so arrange his or her taxable income in such a manner to minimize the tax burden. Effort to minimize the tax burden is not an offense. [C. I .T. 1 Versus Calcutta Discount Co. Ltd. (1973) (S.C) 2]. This verdict becomes the genesis for the entire subject case study.