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Whether honorarium is treated as salary under income tax act of India?
Wiki User
∙ 11y ago
UGC is giving Rs 12000/- per month to a retired tescher doing research under Major Research Projects. UGC uses the word 'Honorarium' for it. Is that amount paid for doing research taxable?
Wiki User
∙ 11y ago
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Is honorarium treated as salary?
Yes. Honorarium is the part of salary for income tax purpose in India.
What is salary under income tax act and what is tax free salary whether honorarium is a salary?
An honorarium is an ex gratia payment made to a person for their services in a volunteer capacity or for services for which fees are not traditionally required. This is used by groups such as schools or sporting clubs to pay coaches for their costs. Another example includes the payment to a guest speaker at a conference to cover their travel, accommodation, or preparation time.In Canada, honorarium is considered salary and thus, taxable income under the Income Tax Act In the case where a gift is substituted for honorarium (gift in lieu of money), it is still classified as a taxable benefit by Canada Revenue Agency. All honorariapayments are considered taxable income under the Income Tax Act of Canada.In case where honorarium is paid to individuals not resident in Canada, it is still subjected to income tax withholding (usually 15%) unless prior approval was obtained from Revenue Canada.Employment income can consist of amounts you receive as salary, wages, commissions, bonuses, tips, gratuities and honoraria. Employment income is usually shown in box 14 of your T4 slip
In a HUF if the Karta has income from salary will his salary income be treated as the salary income or an income for HUF?
Which income is regarded as HUF income?There are five heads of income:1. Salary2. Profits from business or profession3. Income from house property4. Capital gains5. Income from other sourcesSince the HUF is a separate entity, it can earn income from all the above except income from salary.All income that arises on the investment of the HUF's funds and utilisation of its assets is regarded as income and is separately assessed and taxed.
What is the opposite of the word salary?
Well...there are different types of 'salary'...whether it be net or gross...or a base salary that may be supplemented by commission...or a salary based completely on commission...otherwise known as a 'commission based salary'...or total financial benefit offered as part of a contract or benefit package which may include bonuses, insurance coverages, etc. that may be figured into your income for tax purposes and not necessarily what you are paid directly but in general other terms for 'salary' may be:wage, earnings, compensation, income, stipend, pay, remuneration, emolument, revenue, proceeds, gain, livelihood, means, honorarium, etc.
What is the income?
Income - means wages or salary.
What is the average income of most standard sales jobs?
The median annual income salary for a sales representative is $54,780. The lowest annual income salary is $41,119. The highest annual income salary is $71,924.
What is money income?
It is when you get income in the form of money. ie. a salary
What effect do pretax salary reductions have on the federal income tax?
what effect do pretax salary reductions have on the federal income tax?
Is salary an earned income?
Yes any income that you work for would be earned income.
What can an increase in income be expected to cause?
This will depend on whether this increase is temporary or permanent (winning the lottery or increased salary). A temporary increase in income will mainly lead to a temporary increase in savings, whereas a permanent increase in income will increase current consumption. This is referred to as the permanent income hypothesis.
What is Barbara Walters income?
salary
Is base salary nett or gross?
Your gross annual income is your base salary.
