Thursday, 26 September 2013

Employer is not at default for not deducting tax from LTC and medical allowance paid before its incu

IT: Assessee-company could not be held to be in default for not deducting tax at source on LIC and medical reimbursement paid to employees by treating it as as exempt before actual incurring of such expenses, where bills/evidence to substantiate subsequent incurring of expenditure by its employees was maintained by assessee


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