The starting salary of IPS or IAS is Rs 56,100 per month. Apart from salary, these officers also get many other allowances every month including TA, DA, HRA, mobile.
Whenever there is a talk of government jobs in India, IAS and IPS will be placed on the top. These jobs, which are given to the candidates securing top rank in the UPSC Civil Services Examination conducted by the Union Public Service Commission, offer a hefty salary as well as many facilities. Let us know today whether the salary of IAS and IPS is tax free or like other employees, they also have to pay tax to the government from their salary.
First know how much is the salary
The salary of every employee posted in any ministry or department of the Government of India, including IAS and IPS, from small to big posts, is determined by the Pay Commission. Talking about the present time, the 7th Pay Commission is applicable in the country. Under this, the starting salary of an IPS or IAS is Rs 56,100 per month. Apart from salary, these officers also get many other allowances including TA, DA, HRA, mobile every month. As their post increases, their salary also increases. By the time of retirement from the job, the salary of an IAS officer can reach up to Rs 2,25,000.
What is the tax rule on their salary
Many people think that there will be no tax on the salary of IAS and IPS officers. But, this is wrong. The salary of these officers is also taxed just like the salary of a common employee.
How much tax will be charged
According to the new tax regime, if a person’s income is between Rs 3 lakh and Rs 7 lakh, then 5 percent tax will be levied on his income. Apart from this, if a person’s salary is Rs 7 to 10 lakh, then 10 percent tax will be levied on his income. On the other hand, if an employee’s salary is Rs 10 to 12 lakh, then 15 percent tax will be levied on his income. Whereas, a person with an income of Rs 12 to 15 lakh will be taxed at 20 percent. Whereas, 30 percent tax will be levied on income of more than Rs 15 lakh. That is, if the initial salary of an IAS officer is Rs 56,100 per month, then according to the new tax regime, 5 percent tax will be levied on his salary. Whereas, if the salary of an IAS officer is Rs 2,25,000, then 30 percent tax will be levied on his salary.
Related Articles:
https://www.businessleague.in/sip-of-rs-2500-can-make-you-a-millionaire-know-how-you-can-invest-in-this-scheme-of-sbi/
We have taken all measures to ensure that the information provided in this article and on our social media platform is credible, verified and sourced from other Big media Houses. For any feedback or complaint, reach out to us at businessleaguein@gmail.com
