Sushant Singh (Student) (208 Points)
12 January 2012FRIENDS !
I WANT TO KNOW IS PERFORMANCE BASED INCENTIVE TAXABLE?
IF YES THEN UNDER WHICH HEAD?
ACTUALLY COMPANY IS DEDUCTING TAX ON THIS PERFORMANCE BASED INCENTIVE BUT , COMPANY IS NOT PAYING THIS INCENTIVE TO ME ?
IS TAX DEDUCTION POSSIBLE WITHOUT PAYING ME ANY INCENTIVE?
IF NOT WHAT I SHOULD DO ?
@*CS Siddharth Bumb. *
(B.Com, CA Final, CS )
(5270 Points)
Replied 12 January 2012
i think it will charge under section 28, performance based incentives are taxable... and TDS will be based on is nature...
rectify if i am wrong...
charugalla neelima
(CA IPCC STUDENT)
(44 Points)
Replied 13 January 2012
I think it is TAXABLE Under head INCOME FROM SALARIES,U/s 17(2) as PERQUISITE,as any
other benfit or amenity or any privilege provided by EMPLOYER to Employee Under Arms length Transaction being at market value as reduced by employees contribution .
IF ANY WRONG IN MY ANSWER PLZ RECTIFY n INTIMATE THE SAME TO ME.
CAclubindia
