In a book there is a part of a question that says "My C received Rs 4900 on the occasion of silver jubilee of the company.It is stated that a uniform amount was paid to each employee on this occasion."
When they gave their solution they haven't taken it in any income(that means in total income as well)
But isn't that a wrong thing to do? Shouldn't be taxed under the heads salaries? Isn't this kind of a bonus?
Please explain ....
Book.....Systematic Approach to Income Tax,Service Tax and VAT.
Author(s): Dr. Girish Ahuja and Dr Ravi Gupta.
CAclubindia
