Amendment to Fourth Schedule removes salary-linked cap, changing income-tax treatment of employer contributions and salary-related benefits. Amendment removes the salary-linked cap in the Fourth Schedule, Part A, clause (b) of rule 6 by omitting the phrase that limited certain calculations to amounts that exceed one-third of the salary, thereby altering the basis for assessing the tax treatment of employer-provided or salary-related benefits and contributions.
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Amendment to Fourth Schedule removes salary-linked cap, changing income-tax treatment of employer contributions and salary-related benefits.
Amendment removes the salary-linked cap in the Fourth Schedule, Part A, clause (b) of rule 6 by omitting the phrase that limited certain calculations to amounts that exceed one-third of the salary, thereby altering the basis for assessing the tax treatment of employer-provided or salary-related benefits and contributions.
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