Question

Explain the concept of 'CTC'. Which 'salary' related factors you will consider while finalizing the package of any selected candidate in the hospital.

Answer 1

The term salary is defined under section (1) of the income tax act to include following items as salary; Wages. Any annuity or pension. Any gratuity. Any fee, commission, perquisite or profit in lieu of salary or addition to any salary or wages.