Sec. 28(iv) value of perqusite - non-employee (consultant)
This query is : Resolved
abhijeet m. deshpande
(Querist)
24 January 2012
My assessee, a legal practitioner is working as a consultant (not an employee) for a limited company. The company has alloted him shares under ESOP scheme. The value of perqusite is worked out at Rs. 1,70,000/-. Is the amount of perqusite taxable under sec. 28(iv) of the I.T.Act, 1961
CA PARAS BAFNA
(Expert)
24 January 2012
This is a good example for Perquisites to Professionals arising out of/ due to practicing the profession. Yes, it is taxable U/s 28(iv).
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- GST on reimbursement of expenses
- Query on effect of registration of property
- Due date for filing return for the partner in partnership subjected to Tax Audit
- Visiting card purchase
- Goodwill transfer of deceased father’s firm – ICAI applying a 27.04.2026 cut-off to the 3 year limit
- Equity Share Sale and Purchase
- Additional trade name
- Number of years as per AS amortisation of Goodwill
- Whether output tax is taken credit by purchaser
- Wrong CMPo8 file
- Classification of income of P Ltd company as business or profession
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
- How to get money back from delisted company
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
