Incentive & Salary
This query is : Resolved
28 July 2009
Please help me, can i add my incentive in gross salary to take HRA exemption for calculating income tax. my inentive payment is not monthly, its qtrly.
29 July 2009
Incentive amount cannot be added to Gross salary to take HRA Exemption.
Salary means BASIC salary (+ DA if terms of employment so proivde. It also includes commission bases on a fixed percentage of turnover achieved by an employee as per terms of contract of employment) but excludes all other allowances and perquisits.
Hence incentives cannot be treated as salary for HRA.
However incentive is fully taxable.
Salary means BASIC salary (+ DA if terms of employment so proivde. It also includes commission bases on a fixed percentage of turnover achieved by an employee as per terms of contract of employment) but excludes all other allowances and perquisits.
Hence incentives cannot be treated as salary for HRA.
However incentive is fully taxable.
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.
- Stamp Paper for partnership firm change new income tax 2025
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- TDS on Purchase of Immovable Property by NRI from NRI
- Capital gain from sale of house property
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- Value of property in capital gain
- When TDS on GST applied
- Before GSTAT- APL-02 Vs APL-04
- TDS APPLICABILITY......
- Copyright software
- 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
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
