Income tax
This query is : Resolved
Himanshu Sharma
(Querist)
16 January 2019
dear experts,
i have a one query relating to sharing of profit to employees can someone tell me what is limit or what is eligibility or ref. a notification or rule (income tax )
i have a one query relating to sharing of profit to employees can someone tell me what is limit or what is eligibility or ref. a notification or rule (income tax )
Rajesh Kumar
(Expert)
16 January 2019
There is no limit or eligibility as such. A company can share its profit with the employees. However such profit share in the hand of employee shall be treated as "salary" in the hand of employee and shall be taxed as such.
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Himanshu Sharma
(Querist)
16 January 2019
thank you sir i appreciate you for earliest reply
one more think is apply in proprietorship or partnership firms also?
one more think is apply in proprietorship or partnership firms also?
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