Retention amount investment
This query is : Resolved
18 March 2015
X company deduct 10 % retention amount from employee salary every month and invest in recurring deposit in bank in company name for five years after maturity release the retention and interest amt to employee.is any taxability for company and employee.
18 March 2015
if amount is recieved by company first then it will be income of company first and then if that is given to employee it will be salary to employees.
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