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2009 (1) TMI 396 - HC - Income TaxFailure to deduct tax at source - “Whether the Tribunal was correct in holding that the assessee-company was not liable to deduct TDS under section 192 of the Act over the issue of its shares under stock option plan to its employees at a concessional rate as it cannot be treated as a perquisite (salary) and, therefore, the assessee cannot be treated as a defaulter under section 201(1) of the Act and consequently no interest under section 201 (IA) of the Act can be levied? – Held that stock options are not perquisites granted by assessee – hence assessee is not liable to deduct tax on value of shares issued to employees
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