Being a salaried employee may i do business

So far as your employment is concerned that act will be an indiscipline on your part attracting appropriate punishment by your employer.

As regards the income tax, there will be no problem if you account for the income of both the sources properly and pay tax. The IT department will have no concern with your employment.

This is a matter of concern for your employer i.e., for gross violation of employment conditions, if any.  Paying income tax on the income earned will depend upon your disclosure of income.

what is sort of punishment or are there any directives to employer for this?And what is definition of business for an employed perssonel ?