Passage money exempted from tax, u/s 10(6)(i). - Income Tax - 1040/CBDT

INSTRUCTION NO. 1040/CBDT Dated : February 23, 1977 Section(s) Referred: 10(6)(i) Statute: Income - Tax Act, 1961 Passage moneys or the value of any free or concessional passages received by an individual, who is not a citizen of India, from his employer for himself his spouse and children in connection with his proceeding on home leave out of India are exempt from tax, vide Section 10(6)(i) of the Income-tax Act, 1961. This concession is available subject to fulfilment of such conditions as the Central Government may prescribe in this behalf. 2. Section 10(6)(i) of the I.T. Act, 1961 corresponds to Section 4(3)(via) of the Indian I.T. Act, 1922 which was inserted by the Finance Act, 1955. Certain conditions in this behalf were prescribed by the Central Government vide Ministry of Finance Notification No. 78 dated 21st November, 1955 (as amended by Notification No. 98 dated 24th December, 1956). Subsequently, this Notification was rescinded by the Central Government vide Ministry of Finance Notification No. 27 dated 22nd March, 1958.