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Insentive

This query is : Resolved 
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(Querist)
29 February 2012 Dear sir,

I want to paid my five staff member & director 100000/- insentive, we give this type insentive to them & how pass entry & in which head i mention as a bonas or insentive this income show in employee from 16 please guide me in this matter
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CA Siddhartha Bhardwaj

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CA Siddhartha Bhardwaj (Expert)
12 May 2012 You can show it either as bonus or incentive.

The same is taxable in the hands of the employees. Accordingly it will be added to salary income and TDS shall be calculated on the aggregate income including the bonus.

Such bonus shall also be shown in Form 16.
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