INCENTIVE EARNING

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SUMANA KUNDU (Querist)
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23 March 2009 Hi,

I am working in a AUTOMOBILE sales company in Kolkata in a Senior Management position. Due to the nature of business every month other than our salary, we are entitled for performance linked incentives.This is a good sum that we receive in any financial year. But our company is not showing it properly, but giving us a form 16 which only says SALARY and they are mentioning salary + incentive all total there. I have seen formats of Form 16 which has break ups like 17(1) , 17(2), 17(3) like that. Can anybody pls. tell me under which section incentive falls and under which section gross salary falls?

HUZAIFA HUSSAIN

HUZAIFA HUSSAIN (Expert)
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23 March 2009 COMMISSION IS A PART AND PARCEL OF SALARY. SECTION 17 DEALS WITH PERQUISITES.

DEFINITION OF SALARY INCLUDES SALARY , BONUS, COMMISSION, ETC.

CA Nitin Wadhwani

CA Nitin Wadhwani (Expert)
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24 March 2009 Under 17(3).

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