Sales Performance Incentive - Liable for FBT
This query is : Resolved
23 December 2008
Our company have formulated a scheme for sales performance in respect to Pharma product. Two sales personnel are eligible to get incentive for the first quarter of FY 2008-09
(1) Please clarify whether this will be treated as FBT taxable allowance or FBT exempted allowane.
(2) I understand that these incentives will be included for the purpose of TDS on salaries and allowances of concerned employees. Please confirm the same.
(1) Please clarify whether this will be treated as FBT taxable allowance or FBT exempted allowane.
(2) I understand that these incentives will be included for the purpose of TDS on salaries and allowances of concerned employees. Please confirm the same.
23 December 2008
The performance incentive is taxable as salary in the hands of the concerned employee and the employer company is not to pay FBT on the same.
23 December 2008
OPINION AS GIVEN BY MY LEARNED FRIEND
CA MR RAMESHKUMAR SEEMS OK
CA MR RAMESHKUMAR SEEMS OK
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