Salary classification of incentive bonus prevents separate expense deduction; only the standard deduction applies to such payments. Incentive payments to Development Officers of the Life Insurance Corporation constitute salary inclusion because of the employer employee relationship; such payments do not qualify for the fixed percentage expense deduction applicable to insurance agents, and only the statutory standard deduction for salaried income is allowable against these incentive payments.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Salary classification of incentive bonus prevents separate expense deduction; only the standard deduction applies to such payments.
Incentive payments to Development Officers of the Life Insurance Corporation constitute salary inclusion because of the employer employee relationship; such payments do not qualify for the fixed percentage expense deduction applicable to insurance agents, and only the statutory standard deduction for salaried income is allowable against these incentive payments.
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