Amount Received In Lieu of Tour Package
This query is : Resolved
VIPIN GUPTA
(Querist)
24 April 2021
Dear Sir,
Every year on achiving some target we are given tour package by the company. They organise tour and we go with them and we donot incur any cost all is borne by the company. This year due to COVID we have denied for the tour option in lieu of that the company has paid us Rs 3 Lacs will it be capital receipt not liable to tax or revenue receipt.
Every year on achiving some target we are given tour package by the company. They organise tour and we go with them and we donot incur any cost all is borne by the company. This year due to COVID we have denied for the tour option in lieu of that the company has paid us Rs 3 Lacs will it be capital receipt not liable to tax or revenue receipt.
CA R SEETHARAMAN
(Expert)
24 April 2021
It's an monetary incentive given for achieving sale's target, it's only revenue receipt taxable.
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