Tax on contribution of one day salary
This query is : Resolved
08 March 2010
Dear all,
FACTS:
One of the employee of a company dies in an accident in the office premises.
Employees of the company decided to provide one day salary as their contribution to the family of the employee who died in the accident.
Please advice on the TDS and other tax implication on the above transactions in the hands of the employees/company/and the receiving family.
Thanks in advance
FACTS:
One of the employee of a company dies in an accident in the office premises.
Employees of the company decided to provide one day salary as their contribution to the family of the employee who died in the accident.
Please advice on the TDS and other tax implication on the above transactions in the hands of the employees/company/and the receiving family.
Thanks in advance
08 March 2010
Sorry, No deduction is permissible for this noble contribution made by you under I. Tax Act,1961.
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