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Income Tax - Highlights / Catch Notes

Home Highlights August 2013 Year 2013 This

Exclusion u/s 10(10CC) - non-monetary perquisites - whenever tax ...


Amendment to Section 10(10CC) of Income Tax Act: Tax on non-monetary perks not treated as extra income.

August 9, 2013

Case Laws     Income Tax     HC

Exclusion u/s 10(10CC) - non-monetary perquisites - whenever tax is deposited in respect of a non-monetary perquisite, provision of Section 10 (10CC) applies, thus excluding multiple stage grossing up. purpose and intent of introducing amendment to Section 10(10CC) was to exclude element of income - HC

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