My company will give me one time settlement allowance after completion of one year on and above the salary.Is this entity taxable? asked Jan 19 '12 at 18:15 by krrish 1●1●1●1 |
There won't be any exemption/deduction for such extra allowance provided by employer. It will be added to your taxable income and taxed according to slab rates. answered Jan 23 '12 at 15:27 by Pankaj Batra 5.2k●3●20 |