09-10-2011, 08:42 PM
I also agree with the answer, given above.
It is supported by the relevant provision i.e. sub clause (2) of Clause 1A of 2nd Schedule Part III, that says
The tax payable by a full time teacher or researcher, ........ shall be reduced by 75% of tax payable on his <b><u>"income from salary"</u></b>.
So the reduction will be equivalent to 75% of tax payable on salary income only.
It is supported by the relevant provision i.e. sub clause (2) of Clause 1A of 2nd Schedule Part III, that says
The tax payable by a full time teacher or researcher, ........ shall be reduced by 75% of tax payable on his <b><u>"income from salary"</u></b>.
So the reduction will be equivalent to 75% of tax payable on salary income only.
