Guys,
I want to have suggestion regarding the income tax implication on referral bonus that one get from Logix blossom county in case he/she refer some one.

Here, there are 2 ways we can look at it.
1) Its a earning by referral, should be added to income and then tax be calculated. Same as happens in companies we work in
2) The amount will be deducted from next installment. In a way cost of house will be decreased by said amount (20k to be particular). By this ways, service tax on that amount would also be reduced.

Please comment . . .

PS: Actually, i referred some one, now wanted to know my tax implication
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  • It will get adjusted in the installment
    Originally Posted by cpgarg10
    Guys,
    I want to have suggestion regarding the income tax implication on referral bonus that one get from Logix blossom county in case he/she refer some one.

    Here, there are 2 ways we can look at it.
    1) Its a earning by referral, should be added to income and then tax be calculated. Same as happens in companies we work in
    2) The amount will be deducted from next installment. In a way cost of house will be decreased by said amount (20k to be particular). By this ways, service tax on that amount would also be reduced.

    Please comment . . .

    PS: Actually, i referred some one, now wanted to know my tax implication
    CommentQuote