one of the my client having salary income with incentive and he received form 16 salary + incentive income but he paid part of the amount of incentive to another person by cheque so how he can avail deduction for this payment and under which ITR ???
one of the my client having salary income with incentive and he received form 16 salary + incentive income but he paid part of the amount of incentive to another person by cheque so how he can avail deduction for this payment and under which ITR ???
ITR1 will suffice
Incentive is taxable under the head salary. If such incentive is paid to someone else, it is just application of income, in which case, such incentive is taxable in the hands of the recipient employee only. Form to be used is ITR1.
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
View Details
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
View Details
CAclubindia
