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August 4, 2001
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Money > Business Headlines > Report August 4, 2001 |
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Perks taxation norms soon, says CBDT chiefEconomy Bureau The norms for taxation of perquisites is likely to be finalised within a month. Speaking at a Ficci seminar, Central Board of Direct Taxes chairman O P Srivastava said that the proposed tax on perks and employee stock options is liberal and wide-ranging when compared to other countries. "The final guidelines would be ready in a month or so," he said. Pointing to inequitable distribution of income in the country, Srivastava said that the ideal tax structure should take into account both perks and actual income. GC Srivastava, joint secretary, CBDT, said the draft guidelines have been prepared after assessing that the burden of tax should be cast on the employer and not the employee. Powered by YOU MAY ALSO WANT TO READ:
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