Cash award to employees of PSU
This query is : Resolved
13 January 2010
I am working in Kerala state Electricity Board, a PSU run by Kerala Government. Recently a cash award of Rs. 2500 was given to some employees for their meritorious service in their work. Is this taxable as per prevailing income tax rules? Thanks in advance
13 January 2010
as there exist a employee-employer relationship, the same is taxable in hands of employees as salary
14 January 2010
it will be taxable as salary
16 January 2010
Any payment received by employer unless it is exempted by the act will be taxable.Only a list of rewards and awards are exempted.Your reward is not covered by the list.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- REGARDING GST ON COMMERICIAL PROPERTY
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- GST on export of services and Input Credit
- TDS U/S. 194NF
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- ITC temporary reversal and reclaim
- Applicable TDS rate for sale of property in Nov 2024
- Donation Receipt u/s 80G
- MIS MATCH OF INVOICE NUMBER
- VERIFICATION OF REFUND RELATED
- GST Regis.
- ITC c/f from FY2022-23 to FY2023-24 entered the same in table 8C of GSTR9 of FY 2022-23, in FY23-24
- Late filling fees Demand by gst office
- IGST Credit-Show cause notice issued-confusion
- Short and Excess provision of expenses
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
Trending Online Classes
CAclubindia
