Various deductions from Salary: Various deductions from salary according to section 80C/ 80CCC/80CCD including the contributions made towards instruments or schemes like Public Provident Fund (PPF), Life Insurance, Tax Saving Mutual Funds, Pension, Tuition Fee Tax Deduction for Children accounting for a total of up to Rs.1.5 lakh.Details regarding other sources of income need to be shared by an employee to his employer during the time of investment proof submission.Gross Income: This is the summation of regular salary plus any other income produced or received by the employee through various means such as housing and rent.
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