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.
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