Poonawalla fincorps
Poonawalla fincorps

Profit in lieu of salary u/s 17(3)

This query is : Resolved 
Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
18 June 2012
Our Company is paying Incentive to our Managing Director. Please confirm whether this should be shown under Profit Lieu of Salary U/s 17(3) and include in form 12BA OR this should be shown under section 17(1) part of salary.
Profile Image

CA CS Amit S. Kedia

Profile Image

CA CS Amit S. Kedia (Expert)
18 June 2012 Incentives form part of salary u/s 17(1). It can never be termed as 'profits' in lieu of salary.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join CCI Pro
CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries


EasyOFFICE CCI Pro

Trending Online Classes

view all classess


Answer Query



Quick Links