Income from salary
This query is : Resolved
14 July 2012
allowance addtion with salary is also profit in liue of salary ?yes or no ?
15 July 2012
Allowances are always given in addition to the salary and the same are taxable as taxable allowances.
.
Profit in lieu of salary generally does not include regular allowances.
.
The following may be considered as profit in lieu of salary-
1. Compensation receivable on termination or modification of the terms of employment.
2. Lump Sum Amount receivable on joining or cessation of the employment.
.
.
Profit in lieu of salary generally does not include regular allowances.
.
The following may be considered as profit in lieu of salary-
1. Compensation receivable on termination or modification of the terms of employment.
2. Lump Sum Amount receivable on joining or cessation of the employment.
.
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
- Fixe term employment
- Is any professional CA is here please reply
- Putting a heading on received mail
- Gift Received from nonblood relative
- Tax Audit u/s 44AB for Transport Business A proprietorship is engaged in transportation business and
- EXPORT BILL UNDER LUT FREIGHT CHARGE INCLUED IN INVOICE IT LIABLE TO TAX
- Reprocessing of rectification order AY 2025-26
- FTS Taxable under 115A
- Experts need help
- Section 50-fixed asset-->building ceases to exist
- GST ITC REVERSE
- RCM ISSUE ON RENT AND TRANSPORTATION CHARGES
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
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
