Tax treatment of payment towards Notice pay
This query is : Resolved
09 November 2010
Hi!
our co. has reimbursed to an employee towards notice pay paid by an employee to his previous employer so that he can join our company earlier. please advise i should add the amount to his taxable salary. Can he show the income from previuos employer net of notice pay paid by him to his previous employer?
Rgds,
Ramesh
our co. has reimbursed to an employee towards notice pay paid by an employee to his previous employer so that he can join our company earlier. please advise i should add the amount to his taxable salary. Can he show the income from previuos employer net of notice pay paid by him to his previous employer?
Rgds,
Ramesh
09 November 2010
Mr .Ramesh as far i think whatever you will paid to your employee will be taxable in the hand of employee , further amount paid by an employee to his employer toward the notice pay will not be deductible .
Total remuneration received by your employee either from your company or previous employer will be taxable in the hand of your employee
No deduction will be allowed on account of amount paid to his previous employer as notice pay
Total remuneration received by your employee either from your company or previous employer will be taxable in the hand of your employee
No deduction will be allowed on account of amount paid to his previous employer as notice pay
09 November 2010
Agreed with Shambhu
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
- REGARDING GST ON COMMERICIAL PROPERTY
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- GST on export of services and Input Credit
- ITC temporary reversal and reclaim
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- TDS U/S. 194NF
- Applicable TDS rate for sale of property in Nov 2024
- Tds on building rent monthly
- Event company query
- MIS MATCH OF INVOICE NUMBER
- VERIFICATION OF REFUND RELATED
- GST Regis.
- ITC c/f from FY2022-23 to FY2023-24 entered the same in table 8C of GSTR9 of FY 2022-23, in FY23-24
- Late filling fees Demand by gst office
- IGST Credit-Show cause notice issued-confusion
- Short and Excess provision of expenses
- Issue of gst e invoice
- Interchangeable words in accounts
Trending Online Classes
CAclubindia
