Profit in lieu of salary u/s 17(3)
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
18 June 2012
Our Company is paying Incentive to our Managing Director. Please confirm whether this should be shown under Profit Lieu of Salary U/s 17(3) and include in form 12BA OR this should be shown under section 17(1) part of salary.
Our Company is paying Incentive to our Managing Director. Please confirm whether this should be shown under Profit Lieu of Salary U/s 17(3) and include in form 12BA OR this should be shown under section 17(1) part of salary.
18 June 2012
Incentives form part of salary u/s 17(1). It can never be termed as 'profits' in lieu of salary.
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
- Selecting Tax Regime while for calculating tax relief on under Section89 of income tax act 1961.
- Relief Calculation u/s 89 of ITax 1961 in TableA Form10E
- Cloud service
- Forgot to update debit note in gst
- GST ON FOREIGN CLIENT
- Can we issue an invoice today
- SALE OF GOODS FROM OTHER STATE
- Running non ac bus under contract with roadways
- GST ITC on Liquidated damages
- Sale of Gold ornaments
- Tds on GST in connection with sale to public company
- B2B Amendment
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- Regarding Advance Tax not claimed in the Return of Income for A.Y. 2025-26
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
- Updated return in budget 2026
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
