wages

Salary is chargeable to tax on due or receipt basis whichever is earlier and includes wages, annuity or pension, gratuity, fees, commission, perquisites or profits in lieu of salary, advance salary, leave encashment, etc. Full Article

In the Payment of Gratuity Act, 1972 (39 of 1972) (hereinafter referred to as ‘the principal Act’), in section 2, for clause (e), the following clause shall be substituted, namely:—‘(e) “employee” means any person (other than an apprentice) who is employed for wages, whether the terms of such employment are express or implied, in any kind of work, manual or otherwise, in or in connection with the work of a factory, mine, oilfield, plantation, port, railway c.. Full Article

Who is liable to pay Profession Tax?Every person engaged actively or otherwise in any profession, trade, callings or employment and falling under one or the other of the classes mentioned in the second column of Schedule I appended to Profession Tax Act, is liable to pay Profession Tax. Full Article

Applicability of Act (Sec 1) - Every factory wherein 10 or more persons are employed with the aid of power or An establishment In which 20 or more persons are employed without the aid of power on any day during an accounting year. Establishment : Establishment includes departments, undertakings and branches, etc. Full Article

In the Case of : Western Coalfields vs. ACIT (ITAT Nagpur), Decided by : ITAT Nagpur Bench, Date of Order: 30.06.2009, Appeal No. : ITA No. 261/Nag. 2008 (Assessment Year 2003-04) Explanation to s. 37 (1) does not apply to “penalty” which is not of the nature of illegal / unlawful expenditure The assessee became [...] Full Article

SUMMARY OF CASE LAW The Income-tax Act exempts the gratuity amount to the extent of limit prescribed under the said Act; there is no distinction between the gratuity paid under the Payment of Gratuity Act, 1972 or otherwise CASE LAW DETAILS Decided by: HIGH COURT OF KARNATAKA, In The case of: North West Karnataka Road Transport [...] Full Article