tax on over time allowance
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
25 March 2010
is overtime paid to employees is exempted from paying tax from 2009. Is overtime paid as compensation for sitting late i.e. late sitting allowance is exempted from paying tax. whether late sitting allownace to be added as perquisites
CMA Ramesh Krishnan
(Expert)
25 March 2010
I think the Overtime allowance is not exempted. it is also taxable
CA SANJAY MUKHERJEE
(Expert)
26 March 2010
I agree with Expert Ramesh. This is part of salary and should be shown as salary.
CA Ashok Kumar Sahu
(Expert)
27 March 2010
agree with expert
CA Ravi Sisodia
(Expert)
27 March 2010
taxable
CMA Arif Farooqui
(Expert)
28 March 2010
agreed it is taxable under head salary
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