Dear Sir,
What is the Income tax treatment of amount received as welfare fund from collegue on death of employee?
Whether is it taxable or exempt?
Please help in this regars.
Thank you.
Hardik Patel (B.Com, CA Final) (158 Points)
30 November 2018Dear Sir,
What is the Income tax treatment of amount received as welfare fund from collegue on death of employee?
Whether is it taxable or exempt?
Please help in this regars.
Thank you.
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(178226 Points)
Replied 30 November 2018
Taxable u/h. IFOS, if amount exceed 50K, unless received from charitable trust or specified institutes.