![]() Section 17(1) of the Income tax Act gives an inclusive and not exhaustive definition of “Salaries” including therein (i) Wages (ii) Annuity or pension (iii) Gratuity (iv) Fees, Commission, perquisites or profits in lieu of salary (v) Advance of Salary (vi) Amount transferred from unrecognized provident fund to recognized provident fund (vii) Contribution of employer to a Recognised Provident Fund in excess of the prescribed limit (viii) Leave Encashment (ix) Compensation as a result of variation in Service contract etc. 4.9 Value of certain other fringe benefits:.4.8 Provision for sweeper, gardener, watchman or personal attendant:.4.7 Free/Concessional journeys provided by an undertaking engaged in carriage of passengers or goods:.4.6 Free/Concessional Educational Facility: Value of the perquisite would be the expenditure incurred by the employer.4.5 Perquisite arising out of supply of gas, electric energy or water:.4.4 Perquisite of motor car provided by the employer–.4.3 Value of hotel accommodation provided by the employer.4.1 Valuation of residential accommodation provided by the employer:.
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