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tax on over time allowance

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Querist : Anonymous

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Querist : Anonymous (Querist)
25 March 2010 is overtime paid to employees is exempted from paying tax from 2009. Is overtime paid as compensation for sitting late i.e. late sitting allowance is exempted from paying tax. whether late sitting allownace to be added as perquisites
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
25 March 2010 I think the Overtime allowance is not exempted. it is also taxable
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CA SANJAY MUKHERJEE

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CA SANJAY MUKHERJEE (Expert)
26 March 2010 I agree with Expert Ramesh. This is part of salary and should be shown as salary.
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CA Ashok Kumar Sahu

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CA Ashok Kumar Sahu (Expert)
27 March 2010 agree with expert
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CA Ravi Sisodia

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CA Ravi Sisodia (Expert)
27 March 2010 taxable
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CMA Arif Farooqui

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CMA Arif Farooqui (Expert)
28 March 2010 agreed it is taxable under head salary

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