Incentives on sales, target etc
This query is : Resolved
09 September 2014
will it be taxable received by JCB machine dealer for sales of spare parts, achieving target
10 September 2014
Section 28(iv) provides that the value of any benefit or perquisite, whether convertible into money or not, arising from business or the exercise of a profession shall be chargeable to income-tax under the head “Profits and gains of business or profession”
Accordingly incentive received for achieving sales target shall be taxable as business income.
Accordingly incentive received for achieving sales target shall be taxable as business income.
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