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Lokshabha members

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(Querist)
22 February 2012 Salary of lokshabha member whether exempt and if yes to what extent ??
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
22 February 2012 Not exempt.The salary and allowances (except daily allowance and constituency allowance) received by the Lok Sabha members are not to be taxed under the head `Salaries' but under the head `Income from Other Sources'. Since it is taxed under the head `Income from Other Sources' TDS provisions doesn't attract and therefore,the members would have to discharge their tax liability by paying advance tax and / or self assessment tax.
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kruti r shah

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kruti r shah (Querist)
23 February 2012 Thanks a lot sir...
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