Salary
This query is : Resolved
18 February 2014
if any employee resign from company and receive settlement amount and pf amount any resigning in which head this income is taxable?
18 February 2014
the settlement amount shall be taxable under salary only by virtue of section 15 wherein former employer is also included.
with regards to PF amount, it shall depend on whether the same is taxable or not. if it is not taxable, then the question of income head becomes redundant...if it is taxable, then it shall also be included under salary only
with regards to PF amount, it shall depend on whether the same is taxable or not. if it is not taxable, then the question of income head becomes redundant...if it is taxable, then it shall also be included under salary only
18 February 2014
under the head salary this amount would be taxable.if taxed earlier on due basis then no need to pay tax again
18 February 2014
thanks for the "due basis" point Parul :)
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