18 November 2010
Hi All, Our company pays some amount out of salary as share of profit to employees. I need clarification about tax implications to the company as well as to the employee. Can anybody clarify this?
They pay Bonus separately once in a year during diwali festival. This share of profit is paid for the staff who contributes excellent work for the profit of the company. Each month an employee can receive his share separately with reference to profit & Loss statement as reported by accounts. only High level officials are eligible for this. can i treat it as bonus and do TDS under salary?
CAclubindia
