Whether settlement Allowance paid by a Company to its employee on retirement is taxable under which head and its TDS effect. If the said alloance is paid in the next financial year. what will its effect i.e paid in whcih head like Salary and TDS Consquences and its taxibilty.
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Settlement allowance on retirement
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Slight correction in above query Fixed Settlement allowance paid to employee , ex employees, contract employee on contract who are ex employee of the company etc to settle at its home town after retirement in same year or subsequent years. Its taxability in which head in company and employee as well. TDS consequences if any.
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