https://www.taxtmi.com/circulars?id=4966 A non retiring candidate for directorship or the member proposing him must deposit a fixed sum refundable only if elected and forfeited if unsuccessful. Perquisites are allowed in addition to salary/commission but subject to location based ceilings; employer contributions to provident, superannuation or annuity funds are excluded from that ceiling to the extent not taxable under income tax law. Gratuity is payable in addition to perquisites, limited to half a month's salary per completed year of service and subject to an overall cap. en-us Fri, 15 Sep 1989 00:00:00 +0530 Thu, 07 Aug 2008 18:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=4966 A non retiring candidate for directorship or the member proposing him must deposit a fixed sum refundable only if elected and forfeited if unsuccessful. Perquisites are allowed in addition to salary/commission but subject to location based ceilings; employer contributions to provident, superannuation or annuity funds are excluded from that ceiling to the extent not taxable under income tax law. Gratuity is payable in addition to perquisites, limited to half a month's salary per completed year of service and subject to an overall cap. Circulars Income Tax Fri, 15 Sep 1989 00:00:00 +0530 https://www.taxtmi.com/circulars?id=4966