Sales Performance Incentive - Liable for FBT
This query is : Resolved
23 December 2008
Our company have formulated a scheme for sales performance in respect to Pharma product. Two sales personnel are eligible to get incentive for the first quarter of FY 2008-09
(1) Please clarify whether this will be treated as FBT taxable allowance or FBT exempted allowane.
(2) I understand that these incentives will be included for the purpose of TDS on salaries and allowances of concerned employees. Please confirm the same.
(1) Please clarify whether this will be treated as FBT taxable allowance or FBT exempted allowane.
(2) I understand that these incentives will be included for the purpose of TDS on salaries and allowances of concerned employees. Please confirm the same.
23 December 2008
The performance incentive is taxable as salary in the hands of the concerned employee and the employer company is not to pay FBT on the same.
23 December 2008
OPINION AS GIVEN BY MY LEARNED FRIEND
CA MR RAMESHKUMAR SEEMS OK
CA MR RAMESHKUMAR SEEMS OK
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?
- GST on export of services and Input Credit
- ITC temporary reversal and reclaim
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- Inventory of finished goods
- Applicable TDS rate for sale of property in Nov 2024
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- GST ON EXPORT COMMISSION
- RCM INVOICING FROM NOV-2024
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- Regarding Waiver of Interest levied u/s 50 of PGST/CGST Act
- 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
Trending Online Classes
CAclubindia
