cash incentive given to employees
will it taxable in the hands of the employee as perq
or
will the employer pay FBT on it
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FBT
Replies (8)
Cash incentive is taxable in the hands of employee .....hence no FBT
cash incentive is basically a part of salary so it will be treated as perquisites and accordingly taxable i.e. liable to tds.
thank you
thank you sanket
Dear friend,
all obligations are taxable in the hand of employee.
cash incentive is a obligation for a employee. so it will be taxable in the hand of employee vice versa fbt is not liable on cash incentive.
No FBT is levied on cash incentives as it is not covered by the exclusive list of expenses chargeable to FBT. Secondly cash incentives are taxable in the hands of employees and hence no FBT shall be payable on it.
See income tax act 17(1)( d) for this . any other cash allowance is fully taxable in the hand of the employees. OK
Cash Incentive is taxable in the hands of Employees. No FBT on Employer
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