Part IIIAMENDMENT TO THE ELECTION COMMISSION (CONDITIONS OF SERVICE OF ELECTION COMMISSIONERS AND TRANSACTION OF BUSINESS) ACT, 1991 (From Clause 144 )
Perquisite inclusion for employer retirement contributions expanded to cover aggregated contributions and related accretions as taxable benefits. Employer contributions to a recognised provident fund, the income-tax pension scheme and an approved superannuation fund are to be treated as a perquisite ... Summary
Perquisite inclusion for employer retirement contributions expanded to cover aggregated contributions and related accretions as taxable benefits.
Employer contributions to a recognised provident fund, the income-tax pension scheme and an approved superannuation fund are to be treated as a perquisite only to the extent they exceed a prescribed threshold in a previous year, with contributions aggregated across those instruments. Annual accretions (interest, dividend or similar amounts) to balances of those funds or scheme are also treated as a perquisite to the extent they relate to employer contributions already included in total income, computed as prescribed.
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