Sec. 28(iv) value of perqusite - non-employee (consultant)
This query is : Resolved
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
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).
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