reward as money received from employer to employee in india, it is taxable or not? if it is taxable which head i can show this income, please let me know
akam_19_2007 @ yahoo.co.in
thanks & regards
aruna thakur
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rewards as money
Replies (1)
Ms. Aruna Thakur
The definition of salary in sectin 17(1) of Income-tax Act, 1961 is an inclusive definition. Hence the reward money received is a salary. It should be shown under the head "Income from Salaries"
Best Wishes
Sathikonda
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