Summary |
In this book an attempt has been made to analyse the various types of perquisites received or received or receivable by an employee. The provisions of law governing the exemption of perquisites or the valuation of the perquisite for inclusion in the taxable salary have been explained in details with the help of the relevant rules or law or circulars of the central board of direct taxes. Several illustrations have been given to explain that b proper tax planning an employee can save a lot of money on income-tax in respect of perquisites. Appendices containing the relevant extracts from the I.T. Act, 1961 and the I.T. Rules, 1962 and up-to-date circulars of the central board of direct taxes have been incorporated at the end of the book. I am sure that the book will be found to be a very useful treatise for all types of employees in the private, public and government sectors as well as by the employers. Besides, the book will be of use to the income-tax officers particularly those dealing with the assessment of salaried employees. Income-tax advisers, chartered accountants, income-tax practitioners, tax experts and accountants of commercial and other establishments will also find the book as a very helpful guide in the matter of valuation of the different types of perquisites.
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