Cash Award
This query is : Resolved
31 August 2009
A Co. is distributing Rs.10000/- as award to it's employees as Co. has completed 50 years. Is this amount is exempted under Income Tax , if yes than under which section and if taxable then under which section it is taxable?
31 August 2009
What ever may be the amount, what ever may be the form, what ever may be the name of allowance, all are taxable as salary income, as there is a employer and employee relationship.
Hence, taxable under Income from Salaries.
Hence, taxable under Income from Salaries.
31 August 2009
Most probable above is correct
31 August 2009
Agree with Expert
31 August 2009
agree with expert
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- GSTR-1A How to update Invoice
- Excess salary payment.
- TDS on Purchase of Immovable Property by NRI from NRI
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- Stamp Paper for partnership firm change new income tax 2025
- Capital gain from sale of house property
- SFT Cash Deposit in Current Account
- Annual return in Gst
- FORM 26A APPLICABILITY
- When TDS on GST applied
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
- Updated return in budget 2026
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
