TDS on Non Compete Agreement
This query is : Open
08 April 2011
Firm "A" which is liable to Tax Audit is making payment of Rs. 10 lacs as non-compete agreement to one of its employees on his retirement.
My Query is whether the firm is liable to deduct TDS on the sum so being paid.
Regards
My Query is whether the firm is liable to deduct TDS on the sum so being paid.
Regards
08 April 2011
In my opinion, its a kind of compensation to the employee & should be taxed as salary.
08 April 2011
However, other views are also welcome.
hence kept it open.
hence kept it open.
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