Friday, 30 October 2015

Whether ex-gratia payment made by employer out of his own sweet will can be treated as 'profits in lieu of salary' u/s 17(3)(i) - NO: HC

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Section 56(2)(ix): Forfeiture of Advance Money Received – A Critical Analysis

The Dual Conditions for Taxability Section 56(2)(ix) of the Income Tax Act imposes tax liability on sums received as advance or otherwise du...