one of the my client having salary income with incentive and he received form 16 salary + incentive income but he paid part of the amount of incentive to another person by cheque so how he can avail deduction for this payment and under which ITR ???
pritesh (student) (31 Points)
04 August 2015one of the my client having salary income with incentive and he received form 16 salary + incentive income but he paid part of the amount of incentive to another person by cheque so how he can avail deduction for this payment and under which ITR ???
CMA Poornima Madhava
(CMA)
(13097 Points)
Replied 04 August 2015
Incentive is taxable under the head salary. If such incentive is paid to someone else, it is just application of income, in which case, such incentive is taxable in the hands of the recipient employee only. Form to be used is ITR1.
CA Kumar Mukesh
(CA CMA FINAL and Advance Excel Trainer)
(6871 Points)
Replied 04 August 2015
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