Hello everyone..
I would like to know whether the incentives taxable or not..?
Person working in consultant firm,get incentives as per recruitement..
either 2% or 3%...
If his monthly gross is 15000 and getting incentive as 4000 or 5000
on recruitement of candidate..
Is that be taxable..
Kindly help...
My friend and myself also would like to know...
Plz mail to
Thanks
Anamika
From India, Pune
4I would like to know whether the incentives taxable or not..?
Person working in consultant firm,get incentives as per recruitement..
either 2% or 3%...
If his monthly gross is 15000 and getting incentive as 4000 or 5000
on recruitement of candidate..
Is that be taxable..
Kindly help...
My friend and myself also would like to know...
Plz mail to
Thanks
Anamika
From India, Pune
If the incentive is not a part of your Salary/CTC then in that case it will be taxable under the head other sources of income only if the amount is taxable amount. Regards Abhishek
From India, New Delhi
From India, New Delhi
Hi Anamika, Incentives are taxable as per law. Any kind of money given to an employee is taxable except gift coupons or gift cheques. Hope that clarfies your doubt. Regards, Sajal
From India, Bangalore
From India, Bangalore
Any incentive recived towards placement is fully taxable. If the person is working as a regular employee, then the tax slabs would be applicable to calculate the tax liability. Regards Rosy
From India, Bangalore
From India, Bangalore
Hi,
wether it is a consulting firm or service industry or anything
As per tax calculation if ur annual income is more than the taxable norms and conditions then you are liable to pay Tax.
If your annual gross is 1.5 then you must have the brk up like
Basic,HRA,Medical allowance,Conveyance,etc
If u donot provide Rent agreement,medical bill,conveyance bill under company policy then all these are also come under Tax.
u can show your expenditure on these things but incentives are counted as your side income so it is purely taxable.
Incentives are not included in your CTC(some company) but it is included in your annual income
Incentives are part of your income but if the total income-(savings,as under ta law+HRA+reimbursments) < ur taxable income
u'll not liable to pay tax.
U have to submit all the documents.
Prativa
From India, New Delhi
wether it is a consulting firm or service industry or anything
As per tax calculation if ur annual income is more than the taxable norms and conditions then you are liable to pay Tax.
If your annual gross is 1.5 then you must have the brk up like
Basic,HRA,Medical allowance,Conveyance,etc
If u donot provide Rent agreement,medical bill,conveyance bill under company policy then all these are also come under Tax.
u can show your expenditure on these things but incentives are counted as your side income so it is purely taxable.
Incentives are not included in your CTC(some company) but it is included in your annual income
Incentives are part of your income but if the total income-(savings,as under ta law+HRA+reimbursments) < ur taxable income
u'll not liable to pay tax.
U have to submit all the documents.
Prativa
From India, New Delhi
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Taxable Income.doc