https://www.taxtmi.com/caselaws?id=13852 An employer's payment of Rs. 36,000 for a deferred annuity policy for an employee's benefit was treated as taxable salary-related income, falling within the scope of "profits in lieu of salary" and a perquisite. The analysis turned on the breadth of salary-related income under the Income-tax Act, 1961 and the retrospective insertion of clauses (iiia) and (iiib) in section 2(24), which expanded the taxable character of such benefits. On that basis, the deferred annuity premium was held assessable in the employee's hands as a taxable employment benefit, and the issue was answered in favour of the Revenue. en-us Tue, 23 Jan 2001 00:00:00 +0530 Fri, 03 Jul 2009 12:48:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=13852 An employer's payment of Rs. 36,000 for a deferred annuity policy for an employee's benefit was treated as taxable salary-related income, falling within the scope of "profits in lieu of salary" and a perquisite. The analysis turned on the breadth of salary-related income under the Income-tax Act, 1961 and the retrospective insertion of clauses (iiia) and (iiib) in section 2(24), which expanded the taxable character of such benefits. On that basis, the deferred annuity premium was held assessable in the employee's hands as a taxable employment benefit, and the issue was answered in favour of the Revenue. Case-Laws Income Tax Tue, 23 Jan 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=13852