Ex gratia payment is tax free or not
This query is : Resolved
06 November 2008
Dear Expert
Ex gratia payment is tax free or not if employee worked in Private limited, company management has plan to give 2lac in the way of ex gratia (other than PF & Gratuity) for employee death. whether we can deduct TDS on Ex gratia payemnt?
Ex gratia payment is tax free or not if employee worked in Private limited, company management has plan to give 2lac in the way of ex gratia (other than PF & Gratuity) for employee death. whether we can deduct TDS on Ex gratia payemnt?
06 November 2008
If the employee had died and payment is only to the legal heirs, this does not assume the character of salary. The payment will be definitely disputed in tax assessment of your company. THe recipient will also be liable for tax under section 56 of IT Act.
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
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- STCG....................................................
- Sales return eway bill
- TAN for Partnership
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- STCG FOR GOLD ETFs
- Specified Profession
- Is E Way Bill Valid If Transport ID Not Mentioned in PART A But Vehicle details mentioned in PART B
- Tax liability on income of freelancer
- Loan by Partnership Firm
- Free lancer income
- Long Term Service award taxability in hands of company
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- Nomination of Bank for refund in itr 2
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
