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Profit in lieu of salary

Pongiannan US (1 Points)

24 May 2022

what is meant by profit in lieu of salary?

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CA Rashmi Gandhi (Chartered Accountant) (86308 Points)
Replied 24 May 2022

Tax

Profits in lieu of salary are payments received by an employee in addition to the regular salary. The profits in lieu of salary can include both monetary and other forms of compensation.

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