Taxable Salary means ‘Gross Salary’ minus ‘Exempt Allowances U/s 10’ of Income Tax Act minus ‘Profession Tax’.
This Taxable salary can be derived from Form 16 received from Employer for a given Financial Year. In case client is employed with more than one employer during any given Financial Year, then Total Taxable Salary (as per Form 16) from all employers is to be added up to derive Total Taxable salary.
You may Click here to know more about allowances.
Click here to know how to calculate salary if there is no Form 16