Is settlement allowance come under income tax?

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

One Answer:

oldest newest most voted

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

link

Know someone who can answer? Share a link to this question via Email, Twitter, or Facebook

Follow this question

Once you sign in you will be able to subscribe for any updates here

Markdown Basics

*italic* or __italic__
**bold** or __bold__
link:[text](http://url.com/ "title")
image?![alt text](/path/img.jpg "title")
numbered list: 1. Foo 2. Bar
to add a line break simply add two spaces to where you would like the new line to be.
basic HTML tags are also supported

learn more about Markdown

Tags:

income-tax ×777
taxable-income ×38
settlement-allowance ×1

Asked: Jan 19 '12 at 18:15

Seen: 1,623 times

Last updated: Jan 23 '12 at 15:27

Is settlement allowance come under income tax?

Know someone who can answer? Share a link to this question via Email, Twitter, or Facebook

Follow this question

Related questions