TMI BlogAmendment of section 17.X X X X Extracts X X X X X X X X Extracts X X X X ..... directly or indirectly, by the employer, or former employer, free of cost or at concessional rate to the assessee. Explanation.— For the purposes of this sub-clause,— (a) "specified security" means the securities as defined in clause (h) of section 2 of the Securities Contracts (Regulation) Act, 1956 (42 of 1956) and, where employees' stock option has been granted under any plan or scheme th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ; (e) "option" means a right but not an obligation granted to an employee to apply for the specified security or sweat equity shares at a predetermined price; (vii) the amount of any contribution to an approved superannuation fund by the employer in respect of the assessee, to the extent it exceeds one lakh rupees; (viii) the value of any other fringe benefit or amenity as may be prescribed: ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... o the said clause (2) so as to provide that perquisite include the amount of any contribution to an approved superannuation fund by the employer in respect of the assessee, to the extent it exceeds one lakh rupees. It is also proposed to insert sub-clause (viii) so as to provide that perquisite include the value of any other fringe benefit or amenity as may be prescribed. These amendments wi ..... X X X X Extracts X X X X X X X X Extracts X X X X
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