Head of Income

This query is : Resolved

amrith (Querist)
Follow

01 December 2008 If an employer give Rs 1,00,000/- to an employee for his marrage in which head it will be taxable.
There are two cases
1) If it is the policy of the Company.
2) If it is not the policy of the Company.
If it is in kind will there be any change

CA.ViVeK M ACA

CA.ViVeK M ACA (Expert)
Follow

01 December 2008 There is employer employee relationship exist so as per the definition of profit in lieu of salary it shall be caccounted in the above cases.

amrith

amrith (Querist)
Follow

01 December 2008 please see the question once more i have changed little bit

O.D.SHARMA

O.D.SHARMA (Expert)
Follow

01 December 2008 Dear ,Add it to salary income & deduct tax.This is in line with TDS on salary

CA.ViVeK M ACA

CA.ViVeK M ACA (Expert)
Follow

01 December 2008 Wedding gift by way of cash shall form the part and parcel of the salary irrespective of the fact that is the policy of the company or otherwise.

Wedding gift by the company will not form the part of the salary however FBT whiil be payable by the employer for the valuof 50% of the wedding gift.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now