1. #1
    Unregistered

    Are profits too a part of a part of taxable salary for an employer of private concern?

    If an employer earns a part of profit from his invested amount of money then will this amount is a part of taxable income or will be free from that? If itís taxable then when this amount is used for bonuses the taxes are deducted early or after distributing the bonuses to employee?

  2. #2
    Barnali Array
    Join Date
    May 2013
    Posts
    206

    Re: Are profits too a part of a part of taxable salary for an employer of private concern?

    Hi,What ever you earn is taxable in the hands of assessee...however some incomes are tax free and some income are eligible for deduction as per indian Income Tax Act...Income is taxable depends upon the nature of your earning....Like Bank interst is taxable but deduction is also available to certain limit....but Intesr on FD with Bank is taxable fully...On the other hand interest received from PPF is tax free income in the hand of assessee....Income from investing in business is taxable in the hands of assessee under Income Tax Act...Hence yiu hve to judge the nature of income you are earning...and decision needs to be taken...

+ Reply to Thread

Similar Threads

  1. Will my part time job salary also get taxed?
    By Unregistered in forum Professional Discussions
    Replies: 4
    Last Post: 15-08-2013, 09:32 PM
  2. Replies: 12
    Last Post: 22-03-2013, 03:19 PM
  3. Replies: 11
    Last Post: 16-02-2013, 10:02 AM
  4. Can we do a private part time job along with a government regular job?
    By Unregistered in forum Professional Discussions
    Replies: 8
    Last Post: 15-12-2012, 07:58 AM