Perquisite.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....tantial interest in the company; (ii) by any employer (including a company) to an employee [other than employee referred in sub-clause (i)] whose income under the head "Salaries" by way of monetary payment (from one or more employers) exceeds such amount as may be prescribed; (d) the value of any specified security or sweat equity shares allotted or transferred, directly or indirectly, by the current employer, or former employer, free of cost or at concessional rate to the assessee; (e) the value of any other benefit or amenity, as may be prescribed; (f) any sum paid by the employer in respect of any obligation which, but for such payment, would have been payable by the assessee; (g) any sum paya....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....cal treatment or treatment of any member of his family- (i) in any hospital maintained by the Government, or any local authority, or any other hospital approved by the Government for the purposes of medical treatment of its employees; (ii) in respect of the prescribed diseases or ailments, in any hospital approved by the Principal Chief Commissioner or Chief Commissioner having regard to such guidelines as may be issued in this behalf; (c) any portion of the premium paid by an employer in relation to an employee, to effect or to keep in force an insurance on the health of such employee under any scheme approved, for the purposes of section 30(c), by the-- (i) Central Government; or (ii) Insurance....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....by the Reserve Bank of India; and (b) the expenditure on travel shall be excluded from perquisite only in the case of an employee whose gross total income, as computed before including therein the said expenditure, does not exceed such amount as may be prescribed. (4) For the purposes of this section,- (a) "fair market value" means the value determined in accordance with the method, as may be prescribed; (b) "family", in relation to an individual, shall have the meaning assigned to it in Schedule III (Note 2); (c) "gross total income" shall have the meaning assigned to it in section 122(10); (d) "hospital" includes a dispensary or a clinic or a nursing home; (e) "option" means a right....