Maintain account and tax benefit

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

08 January 2016 One of our employee (business manager) working in abroad.We pay him monthly Rs.74800/-(Net salary). and we paid him Rs.1,50,000/- as incentive BUT not yet booked in accounts.

Kindly advice how we show the same and how make his form 16.

Thanks & Regards

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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09 January 2016 Will you specify the mode of payment ?
It should be by cheque only. Cash payment is disallowable U/s 40A(3).
Comply the TDS provisions also. Form 16 is required to be downloaded from Traces site.
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