Remuneration exemption threshold increased by amendment, raising allowable employee benefit cap under income tax law Amendment increases the monetary ceiling in the proviso to clause (v) of section 17(2) of the Income-tax Act by substituting the earlier figure with a ... Summary
Remuneration exemption threshold increased by amendment, raising allowable employee benefit cap under income tax law
Amendment increases the monetary ceiling in the proviso to clause (v) of section 17(2) of the Income-tax Act by substituting the earlier figure with a higher figure, changing the limit applicable to valuation or exemption of specified salary components; effected by the Finance (No. 2) Act, 1998 with the change effective from the commencement of the prescribed financial year.
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