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Perquisite in lieu of salary u/s 17(2)(iii) - difference in value between stamp duty valuation and actual sale value - Merely because the assessee happens to be a director of the company, provisions of section 17(2)(iii) of the Act cannot be applied to the assessee without establishing the fact that the assessee is an employee of the company and the benefit given is in the nature of salary. - Tri

Income Tax
January 22, 2018

Perquisite in lieu of salary u/s 17(2)(iii) - difference in value between stamp duty valuation and actual sale value - Merely because the assessee happens to be a director of the company, provisions of section 17(2)(iii) of the Act cannot be applied to the assessee without establishing the fact that the assessee is an employee of the company and the benefit given is in the nature of salary. - Tri

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