Salaries head
Querist : Anonymous
he is a director of the company,
he has a substantial interest in the company, ie he is the beneficial owner of equity shares carrying 20% of voting power in the employer company.
his monetary income under the head "Salaries" for the year exceeds 24,000. The amount considered here includes amounts due from, paid or allowed by one or more employers. It excludes all non-monetary benefits. Also, deductions in respect of monetary payments exempt from income tax, standard deduction, deduction for educational allowance and deduction on account of professional tax will be allowed for this purpose.
Querist : Anonymous
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