Limit on allowance in respect of benefit, amenity or perquisite under clause (c)(iii)/clause (a)(v) – Reimbursement of certain expenses/payments whether form part of perquisite to be restricted to one-fifth of salary

 CIRCULAR NO. 62, DATED 29-6-1971

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Reference is invited to Circular No. 32 issued by the Board on 29-10-1969 [printed here as Annex II] and Departmental Circular No. 30-D(LVIII-34), dated 7-11-1966. [printed here as Annex III]

The Board are advised that the instructions contained therein are not in conformity with the provisions of law.

Accordingly, Circular No. 32, dated 29-10-1969 and Departmental Circular No. 30-D of 1966, dated 7-11-1966 are hereby withdrawn with immediate effect.

The above instructions may please be brought to the notice of the assessing officers without delay.

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Category : Income Tax (25163)
Type : Circulars (7511) Notifications/Circulars (30306)

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