https://www.taxtmi.com/circulars?id=4807 Retrospective Explanation to section 10(13A) renders HRA exemption inadmissible where the employee occupies owned accommodation or has not incurred rent; prior guidance permitting such exemption is withdrawn and tax not deducted must be recovered from salaries by March 31, 1985, and included in total income for the financial year. A new sub clause to section 17(2) treats interest free or low interest employer loans for house or motor car as a taxable perquisite equal to prescribed notional interest (with specified employee exclusions) and is to be incorporated into existing circular guidance. en-us Fri, 01 Feb 1985 00:00:00 +0530 Sat, 02 Aug 2008 18:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=4807 Retrospective Explanation to section 10(13A) renders HRA exemption inadmissible where the employee occupies owned accommodation or has not incurred rent; prior guidance permitting such exemption is withdrawn and tax not deducted must be recovered from salaries by March 31, 1985, and included in total income for the financial year. A new sub clause to section 17(2) treats interest free or low interest employer loans for house or motor car as a taxable perquisite equal to prescribed notional interest (with specified employee exclusions) and is to be incorporated into existing circular guidance. Circulars Income Tax Fri, 01 Feb 1985 00:00:00 +0530 https://www.taxtmi.com/circulars?id=4807