Provisions u/s.40A(5), Income Tax Act 1961.

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....s assessing the cases of the employers the question of disallowing the salaries and perquisites paid in excess of the limits prescribed u/s.40A(5) has escaped the attention of the ITO assessing the employer. This has resulted in loss of revenue and under-assessment in certain cases pointed out by the Revenue Audit. 2. In order to avoid such lapses in future and to ensure proper coordination, the ....