TIP taxability

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..... TIP taxability
Query (Issue) Started By: - NAV HIND JAIN Dated:- 20-2-2009 Last Reply Date:- 24-2-2009 Income Tax
Got 2 Replies
Income Tax
TIP RECEIVED IN HOTEL LINE IS TAXABLE UNDER WHAT .....

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..... HEAD Reply By Sachin Agarwal: The Reply: Dear Nav Hind, TIP will taxable in the head of teh Business or profession. please write if there is any other confusion in this regard. sachinagarwalcallb@ .....

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..... gmail.com Reply By Sunil Jain: The Reply: Technically speaking Tip recd in hotel business is paybale to the staff and is to be credited as receipt and debited in Tips and incentive account. However in .....

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..... case the entire amount is not paid to the staff the diffrence will automatically be shown as part of income in the profit and loss account of the assessee.
Discussion Forum - Knowledge Sharing .....

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