Sec 200 of the Companies Act
This query is : Resolved
05 October 2007
Section 200 of the Companies Act prohibts tax free payment of salary. However, under the income tax, gross up clause is available. Please advise on the following situation:
An employee is to be paid net of tax salary; but the offer letter is to be made or worded in such a way that it complies with Section 200 of the Companies Act, 1956.
Pls advice.
An employee is to be paid net of tax salary; but the offer letter is to be made or worded in such a way that it complies with Section 200 of the Companies Act, 1956.
Pls advice.
05 October 2007
Can u please explain me in which clause is available under the income tax act to gross up salary.
I also want to know abount this particular section 200 of co's act.
I also want to know abount this particular section 200 of co's act.
06 October 2007
Both acts are saperate and this is a general practice
12 November 2007
Thanks Mr. Dashrath Maheshwari for the clarification.
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