How new 'wage' definition in labour codes could impact your income tax outgo

The new wage definition under the Code on Wages, 2019 will change the way gratuity and provident fund calculations are done on salary. As per current rules, gratuity and provident fund is calculated on the basic salary. However, under new rules, it will take into account basic and other allowances except those that are excluded. These changes will impact your income tax liability.

from Tax-Wealth-Economic Times https://ift.tt/itdklqQ