taxability of employee incentive
This query is : Resolved
vijay kumar
(Querist)
06 December 2012
Dear Sir,
I m working in company and i am getting monthly incentive on sales @.5% of monthly sales apart from my salary.
My company is deducting monthly TDS on Salary +incentive. i want to know that is it right to include incentive in salary income.
Regards,
Vijay
I m working in company and i am getting monthly incentive on sales @.5% of monthly sales apart from my salary.
My company is deducting monthly TDS on Salary +incentive. i want to know that is it right to include incentive in salary income.
Regards,
Vijay
Amol S Joglekar
(Expert)
06 December 2012
Yes. You are employee of the company. Incentive definitely forms part of your SALARY as per income tax act.
vijay kumar
(Querist)
06 December 2012
if incentive is only for one time then it will aslo be taxable
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