TaxTMI 
TaxTMI 
Income Tax on Exgratia Payment
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....ncome Tax on Exgratia Payment<br> Query (Issue) Started By: - M C Rawat Dated:- 12-8-2015 Last Reply Date:- 12-8-2015 Income Tax<br>Got 1 Reply<br>Income Tax<br>We are an Industry Association register....
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....ed under M P Societies Registration Act and Recognised by the Income Tax Deptt as a Charitable Institution.. We are having five employees only, who are mostly retired reemployed persons. They are pai....
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....d salaries which are too low and are outside taxable limits. However, each year on the eve of Deepawali these employees are paid two months salary as exgratia.. We would like to know whether this pa....
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....yment is to be treated as salary income and taxable in the hand of the employees? Reply By MARIAPPAN GOVINDARAJAN: The Reply: Yes, this is taxable in the hands of the employees.<br> Discussion Forum....
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