a) Meaning of Assessment Year: Section 2(9) Income Tax As per S.2(9) of the Income Tax Act, 1961, unless the context otherwise requires, the term ‘assessment year’ means the period of twelve months commencing on the 1st day of April every year. a fixed compensation periodically paid to a person for regular work or services. Surveys may focus on one or more job titles, geographic regions, employer size, and or industries. EDB would verify the salary assessment made by schools as soon as possible. Compensation data, collected from several employers, is analyzed to develop an understanding of the amount of compensation paid. If you're an employee who is paid a salary (instead of an hourly rate), you will receive a set amount of compensation on a weekly or less frequent basis. Salary structures are an important component of effective compensation programs and help ensure that pay levels for groups of jobs are competitive externally and equitable internally. The following are the most common methods used to establish pay scales: The going rate: You determine what other businesses in your industry and region are paying for similar jobs, and structure your pay accordingly. Typically, moving salary ranges occurs in response to changes in the external market, it and doesn’t always take into account internal goals, like improving employee longevity or performance. A compensation analysis, also called salary analysis or pay analysis, is an organization-wide review of how your jobs are classified and compensated. Please note that the standard deduction is not available for salary income from Assessment Year 2006-2007. Salary Assessment in Aided Schools Schools have the responsibility to assess the salaries of staff paid under the Salaries Grant in accordance with the stipulations in the Codes of Aid and Guides to Salary Assessment. Computation of Net Salary of an Employee . 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