ma_hesh28
1

Dear Senior’s
If xyz organization has reward system in monthly salary, means if any employee doesn't took any leave in that particular month then he will get one day salary as reward. But the thing is this reward is not fixed which is depending upon presence of that particular employee in that month. So as per income tax act this amount of leave award is exempted from salary income tax or not?
Thanks

From India, Pune
dixonjose02
118

Mahesh, this is definetely not exempted from income tax. Attendance rewards are fully taxable under IT laws. From salary income, only a few components are exempted, which are given in section 80 (c) to 80 (u), sec 24 (housing loan), section 16, etc.of IT Act 1961.
From India, Mumbai
kamesh333
186

Mahesh, why don’t you convert in to some article instead of cash. Purchase household item and issue. Regards - kamesh
From India, Hyderabad
pon1965
604

Incentive is part of income and it will attract the income tax if they are in the taxable income slab. ' Pon
From India, Lucknow
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