Section 17(2)(viia) provides that any annual accretion by way of interest, dividend or any other amount of similar nature during the previous year to the balance at the credit of the fund or scheme may be treated as perquisite to the extent it relates to the employer’s contribution in excess of Rs. 7,50,000. Now, the CBDT has prescribed manner for computation of such annual accretion.Section 17(2)(viia) provides that any annual accretion by way of interest, dividend or any other amount of similar nature during the previous year to the balance at the credit of the fund or scheme may be treated as perquisite to the extent it relates to the employer’s contribution in excess of Rs. 7,50,000. Now, the CBDT has prescribed manner for computation of such annual accretion.taxmann.com Latest Statutory HappeningsRead More
