INCENTIVE EARNING
This query is : Resolved
23 March 2009
Hi,
I am working in a AUTOMOBILE sales company in Kolkata in a Senior Management position. Due to the nature of business every month other than our salary, we are entitled for performance linked incentives.This is a good sum that we receive in any financial year. But our company is not showing it properly, but giving us a form 16 which only says SALARY and they are mentioning salary + incentive all total there. I have seen formats of Form 16 which has break ups like 17(1) , 17(2), 17(3) like that. Can anybody pls. tell me under which section incentive falls and under which section gross salary falls?
I am working in a AUTOMOBILE sales company in Kolkata in a Senior Management position. Due to the nature of business every month other than our salary, we are entitled for performance linked incentives.This is a good sum that we receive in any financial year. But our company is not showing it properly, but giving us a form 16 which only says SALARY and they are mentioning salary + incentive all total there. I have seen formats of Form 16 which has break ups like 17(1) , 17(2), 17(3) like that. Can anybody pls. tell me under which section incentive falls and under which section gross salary falls?
23 March 2009
COMMISSION IS A PART AND PARCEL OF SALARY. SECTION 17 DEALS WITH PERQUISITES.
DEFINITION OF SALARY INCLUDES SALARY , BONUS, COMMISSION, ETC.
DEFINITION OF SALARY INCLUDES SALARY , BONUS, COMMISSION, ETC.
24 March 2009
Under 17(3).
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?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- ITC temporary reversal and reclaim
- TDS U/S. 194NF
- GST on export of services and Input Credit
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- Applicable TDS rate for sale of property in Nov 2024
- Should I report my US salary for January, February, March in Schedule FA?
- Tds on building rent monthly
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding einvoice taken on nil rated sales
- Strategical investment in Public listed company
Trending Online Classes
CAclubindia
