Which of the following statements is INCORRECT in respect of income under head salaries?
1
The relationship of employer and employee is necessary for considering any income under salaries.
2
In case of multiple employment, only the highest salary received from one of the employers will be considered in the income of the employee.
3
Salary surrendered to the Central Government by the employee will be exempt from income.
4
Salary earned from part time employment is also taxable.