Delhi High Court to the rescue of salaried employees
The Delhi High Court in a landmark decision in [2023] 452 ITR 107 (Del) provided relief to an ex-kingfisher airlines employee…
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Today's
54F exemption is protected even in multiple ownership of residential properties ......Read More
Yesterday's Club expenditure ......Read More
Yesterday's Club expenditure ......Read More
Whether it is fair to tax retirement benefits!!
The income tax law in the country provide for different treatment of tax on retirement benefits such as leave encashment,…
......Read MoreCovid care – both a medical emergency and an obligation
In [2011] 10 ITR (Trib) 201 the AO denied the benefit of section 11 to the assessee-trust only because the…
......Read MoreContingent benefit to employees
Section 15 broadly describes what chargeable salary is and more particularly refer to all sums due and payable/paid or allowed…
......Read MoreStandard Deduction
In the case of CIT v. J.V. Gupta & Soons(HUF) (109TAX49) the assessing officer assessed amount received as salary…
......Read MoreScholarships are not taxable
In CIT v. Sir Kameshwar Singh [1935] 3 ITR 305 (PC) the assessee, who carried on an extensive money-lending business,…
......Read MoreCredit Card and Club Subscriptions – Case of Real Anomaly
In the explanatory Circular No. 15/2001 dated 12.12.2001issued by the Central Board of Direct Taxes it is explained that credit…
......Read MoreRelief u/s 89- VRS Payments
Under section 89 an employee can claim relief from tax for any arrears or advance of salary meaning thereby that…
......Read MoreSuperannuation Fund Contributions (SAF)- Not Taxable for Period Upto 01.04.1995
SAF contributions are subject to exemption u/s 10(13) on the satisfaction of certain conditions such as receipt of such sums…
......Read MoreInterest Free/Concessional Loan
On March 23, 1995, the Central Board of Direct Taxes (for short the “C. B. D. T.”), informed the Chief…
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