What is payment in kind? Explain it with a suitable example. - Vidyadip

Question

What is payment in kind? Explain it with a suitable example.

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Answer

A farm labourer who uses a tractor to till a farmer’s land nearby. He earns a daily wage for his efforts. He gets some payment for his work in cash, and the remaining part of the payment in the form of fruits of equal value. The fruits that he receives as a part of this work are called payment in kind.

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