Bonus or commission or any cash allowance paid to an employee is to be treated as 'perquisite' and not 'remuneration'.

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..... 103/69-ITA.II), dated the 4th March, 1972, as amended by Circular No. 84** (F. No 204/13/72-ITA.II), dated the 23rd May, 1972 on the above subject clarifying whether bonus or commission or any other cash allowance to an employee may be treated as part of employee's salary within the meaning of Rule 2(h) of Part 'A' of the Fourth Schedule to the Income-tax Act, 1961, or as perquisite. 2. The Boar .....

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..... sallowance. 3. Board's Circular No. 80 read with Circular No. 84 may be treated as superseded to the extent indicated above. 4. Section 40 (c) (iii) of the Income-tax Act, 1961 stands omitted w.e.f. 1st April, 1969 and section 40 (a) (v) stands omitted w.e.f. 1st April, 1972 and in place of these sections, section 40A(5) has come into force w.e.f. 1st April, 1972. In Section 40A(5), the defini .....

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