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Income Tax Exemption under Section 10(10CC) of Income Tax Act, 1961

 

Eligible Assessee

Individual employee

 

Nature of Income

Tax on income derived as perquisite

 

 

 

Amount Exempt

Entire amount of such tax

 

Conditions laid down for Tax Exemption

  1. The perquisite shall not be provided as monetary payment as referred in section 17(2)

  2. Tax payment can be made by the employer irrespective of any restriction specified u/s 200 of Companies Act.

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