https://www.taxtmi.com/caselaws?id=59070 The article discusses several income-tax issues concerning employee-directors, including the applicable ceiling provision for their remuneration, the treatment of medical reimbursement, house rent allowance and car expenses under section 40A(5), and the scope of deduction under section 80-I where separate accounts of the eligible industrial undertaking were not maintained. It also addresses allowability of contractual bonus, timely superannuation fund contributions and surtax, investment allowance on factory-installed air-conditioners, refrigerators and water coolers, and disallowance under section 37(3A) for travel, hotel, advertising and sales promotion expenditure. Further points include excise duty on bonded stock, share issue expenses, bad debts, Drugs (Price Control) Order liability, and interest under sections 139(8) and 215. en-us Mon, 13 Feb 1989 00:00:00 +0530 Thu, 23 Dec 2010 17:36:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=59070 The article discusses several income-tax issues concerning employee-directors, including the applicable ceiling provision for their remuneration, the treatment of medical reimbursement, house rent allowance and car expenses under section 40A(5), and the scope of deduction under section 80-I where separate accounts of the eligible industrial undertaking were not maintained. It also addresses allowability of contractual bonus, timely superannuation fund contributions and surtax, investment allowance on factory-installed air-conditioners, refrigerators and water coolers, and disallowance under section 37(3A) for travel, hotel, advertising and sales promotion expenditure. Further points include excise duty on bonded stock, share issue expenses, bad debts, Drugs (Price Control) Order liability, and interest under sections 139(8) and 215. Case-Laws Income Tax Mon, 13 Feb 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=59070