direct tax
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
04 September 2010
about section 10(10cc) for perquisits
CMA Ramesh Krishnan
(Expert)
04 September 2010
Section 10(10CC) with effect from April 1, 2003. The newly inserted sub-clause declares that the tax on the income by way of perquisite actually paid by the employer at the option of the employer on behalf of such employee will be exempt and will not be considered a perquisite by way of monetary payment. This is notwithstanding anything contained in Section 200 of the Companies Act.
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