Expressions salary and year as used in clause (10) as it stood prior to its substitution by Finance Act, 1974

Expressions salary and year as used in clause (10) as it stood prior to its substitution by Finance Act, 1974 - Interpretation of https://www.taxtmi.com/circulars?id=4451 Salary for clause (10) means periodical payments by an employer to an employee as compensation for services; allowances, perquisites, bonus or gratuity are excluded unless an allowance is merged into salary. The word year (except in "year of completed service") denotes a calendar year (January-December); "each year of completed service" means successive twelve-month periods reckoned from the date of joining, so averaging periods refer to calendar years immediately preceding the year of payment. en-us Mon, 14 Sep 1970 00:00:00 +0530 Tue, 29 Jul 2008 17:12:00 +0530 TaxTMI RSS Generator Expressions salary and year as used in clause (10) as it stood prior to its substitution by Finance Act, 1974 - Interpretation of https://www.taxtmi.com/circulars?id=4451 Salary for clause (10) means periodical payments by an employer to an employee as compensation for services; allowances, perquisites, bonus or gratuity are excluded unless an allowance is merged into salary. The word year (except in "year of completed service") denotes a calendar year (January-December); "each year of completed service" means successive twelve-month periods reckoned from the date of joining, so averaging periods refer to calendar years immediately preceding the year of payment. Circulars Income Tax Mon, 14 Sep 1970 00:00:00 +0530 https://www.taxtmi.com/circulars?id=4451