Month: October 2021

Tax Treatment of Income in lieu of Salary &, Retirement Benefits

Tax Treatment of Income in lieu of Salary & Retirement Benefits Tax Treatment of Leave Travel Concession or Assistance Leave travel concession or assistance is the assistance provided by the employer for the employee and his family members for travelling in India during the employment, while employee is on leave or after the retirement from …

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Salary

Taxability of Income under the head “Salaries” (Section 15 to 17) Meaning of Salary The term ‘salary’ is defined under Section 17(1). This is an inclusive definition. It includes nine items. You can read the definition of salary at the end of this chapter.In general, salary means any income/benefit from or on behalf of employer …

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Loans and Investment by companies Chapter-10

LOANS & INVESTMENTS BY COMPANIES Loans and Investments by Companies [Section 186] Restriction on investment through investment companies [Subsection 1] A company shall not make investment through more than 2 layers of investment companies. ExceptionsThe provisions of this sub-section shall not affect,— a company from acquiring any other company incorporated in a country outside India …

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