Need help on Income Tax's terminologies

Tax queries 1074 views 1 replies

Dear All,

I would like to know the meaning and info on the following terminologies :

Dearness Pay

Dearness Allowance

Fees

Commission

Bonus

Gratuity

Pension

RPF and different types of PF’s

If possible is it possible to get any link to download e-book related to income tax too???

Thanks in advance,

 

Replies (1)
Commission - Clause (ii) of sub-section (1) n The expression ‘commission’ has no technical meaning but both in legal and commercial acceptation of the term it has definite signification and is understood as an allowance for service or labour in discharging certain duties, such for instance, of an agent, factor, broker or any other person who manages the affairs or undertakes to do some work or renders some service to another. Mostly it is a percentage on price or value or upon the amount of money involved in any transaction of sale or service or the quantum of work involved in a transaction. It can be for a variety of services and is of the nature of recompense or reward for such services - Harihar Cotton Pressing Factory v. CIT [1960] 39 ITR 594 (Bom.). n The word ‘commission’ in this clause should be interpreted ejusdem generis with the word ‘bonus’. - Raja Ram Kumar Bhargava v. CIT [1963] 47 ITR 680 (All.).


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
01 June 2026
Audit, Taxation & Compliance Executive

R P S K & Associates

Nashik

CA Inter

View Details
Company
29 May 2026
Finance Head

Bhawar Sales Corporation

Chennai

Graduate (Any)

View Details
Company
26 May 2026
Education Content Creator

Adyayam Education LLP

Bengaluru

CA Foundation

View Details
Company
24 May 2026
Accounts & Tax Executive

PARAS KHURANA AND CO

New Delhi

B.Com

View Details
Company
ARTICLESHIP 23 May 2026
Article Assistants

Acupro Consulting

Gurgaon

CA Inter

View Details
Company
29 May 2026
Accounts assistant

Shubh Consultancy

Mumbai

Graduate (Any)

View Details
Company
Featured 27 May 2026
Lead Conversion Executive / Sales Closing Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
26 May 2026
CA / MBA (Finance) / CMA / M.Com (Finance)

Sri Aurobindo Gnostic Centre of Education

New Delhi

CA

View Details