05 October 2011
DEAR SIR ONE OF MY CLIENT GET A QUERY THAT HE RECEIVED Rs.400000 AS FULL AND FINAL SETTLEMT CHEQUE FROM VISAKHAPATNAM PORT TRUST. THE VPT PERSONS DID'T GAVE ANY LEDGER COPY OR ANY THING ONLY GIVEN BY CHEQUE. NOW THE QUESTION IS THAT AMOUNT IS TAXABLE OR NOT.
05 October 2011
since the individual get the F&F and the amount is exceeding the basis taxable limit, so the co. has already deducted the tax at source in it. you can confirm the same from the finance department or the HR department. the concern organisation shall provide the form 16 at the year end
Querist :
Anonymous
Querist :
Anonymous
(Querist)
07 October 2011
thank you for your quick reply, thank you very much, but in this query( my client) is not an employee of visakhapatnam port trust, he is a MASTER LIST CARD HOLDER.THAT MEANS deceased person or medically retired emplyoees son's haivng this card to get job in future. the vpt canceling that cards and giving that amount. even hr or any other persons are not telling the information that the amount is taxable or not , that is the problem,
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