u/s. 224(7), any auditor other than the first auditor may be removed from office by the company before the expiry of term ONLY WITH THE PRIOR PERMISSION OF THE CENTRAL GOVERNMENT.
In case of Satyam, the government-appointed board removed PwC. Does this case qualify for contempt of sec. 224(7)?
Was the government appointed board empowered to act in place of CLB / CG while deciding on removal of PwC as auditors?
No. If the company has provided the accomodation on full time basis, his HRA will be fully taxable.See below:
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10(13A) 213 any special allowance specifically granted to an assessee by his employer to meet expenditure actually incurred on payment of rent (by whatever name called) in respect of residential accommodation occupied by the assessee, to such extent as may be prescribed having regard to the area or place in which such accommodation is situate and other relevant considerations;
Explanation : For the removal of doubts, it is hereby declared that nothing contained in this clause shall apply in a case where - (a) The residential accommodation occupied by the assessee is owned by him; or
(b) The assessee has not actually incurred expenditure on payment of rent (by whatever name called) in respect of the residential accommodation occupied by him
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if the Pm is not incurring any expenses on Rent, HRA will be taxable as Sec 10 will not apply on him.
No. If the company has provided the accomodation on full time basis, his HRA will be fully taxable.See below:
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10(13A) 213 any special allowance specifically granted to an assessee by his employer to meet expenditure actually incurred on payment of rent (by whatever name called) in respect of residential accommodation occupied by the assessee, to such extent as may be prescribed having regard to the area or place in which such accommodation is situate and other relevant considerations;
Explanation : For the removal of doubts, it is hereby declared that nothing contained in this clause shall apply in a case where - (a) The residential accommodation occupied by the assessee is owned by him; or
(b) The assessee has not actually incurred expenditure on payment of rent (by whatever name called) in respect of the residential accommodation occupied by him
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if the Pm is not incurring any expenses on Rent, HRA will be taxable as Sec 10 will not apply on him.
BHUPINDER SHAH AND COMPANY
New Delhi
CA Inter
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Chirag N Shah & Associates
Mumbai
CA Inter
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CAclubindia
