Additional evidence in transfer pricing dispute leads to fresh examination, while tax deductions, TDS credit, fee and refund interest require verifica...
Category II AIF pass-through taxation preserves non-business income character; investment receipts cannot be reclassified without applying recognised ...
Mutual fund maturity rules require proper rollover, redemption, disclosure, and due diligence; investor gains cannot excuse regulatory breaches or pen...
Threshold exemption excludes exempt services, while stamp-paper purchases avoid reverse charge; consequential service tax penalties were also set asid...
Employee conflict disclosures and investment restrictions expand with new recusal duties, post-employment limits, and compliance reporting requirement...
The compensation received by the petitioner for diminution in value of ESOPs is a perquisite taxable under the Income-tax Act, 1961, not a capital receipt. To determine the value of the perquisite, the benefit received by the employee from the specified security should be ascertained. Since no payment was made by the petitioner towards ESOPs and the ESOPs continue to be retained, the entire compensation received qualifies as a perquisite liable to be taxed under the head "salaries". The petitioner is not entitled to a 'nil' certificate of deduction of tax at source. Although the basis for the conclusion in the impugned order is flawed, the rejection of the request for a 'nil' certificate is affirmed.
The compensation received by the petitioner for diminution in value of ESOPs is a perquisite taxable under the Income-tax Act, 1961, not a capital receipt. To determine the value of the perquisite, the benefit received by the employee from the specified security should be ascertained. Since no payment was made by the petitioner towards ESOPs and the ESOPs continue to be retained, the entire compensation received qualifies as a perquisite liable to be taxed under the head "salaries". The petitioner is not entitled to a 'nil' certificate of deduction of tax at source. Although the basis for the conclusion in the impugned order is flawed, the rejection of the request for a 'nil' certificate is affirmed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4803
Join Channel
TaxTMI 
