Hi all,
I have doubt regarding overtime allowance taxability.
Wether it includes in the defination of salary.
If yes, where it comes in salary.
please help me in this regard.
~Mukund
2 Replies
Pavani Turaga
(53 Points)
Replied 10 May 2007
it will be included in salary & fully taxable sec10(14)
Sunil
(82 Points)
Replied 10 May 2007
Good Day!!
Is it allowance i.e. a fixed amount or amount based on your salary ... or a perquisite. On what basis is it paid? Wht ever be the basis it will be 100% taxable with no exemption or deduction...
Is it allowance i.e. a fixed amount or amount based on your salary ... or a perquisite. On what basis is it paid? Wht ever be the basis it will be 100% taxable with no exemption or deduction...
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