26 February 2013
Sec 2(ea) "assets", in relation to the assessment year commencing on the 1st day of April, 1993, or any subsequent assessment year, means......xxxxxxxxxx......but does not include:
1) a house meant exclusively for residential purposes and which is allotted by a company to an employee or an officer or a director who is in whole-time employment, having a gross annual salary of less than 10 lakh rupees;
My doubt is , if salary is more than 10lakh then asset is taxable in hand of COMPANY or DIRECTOR/EMPLOYEE????
CAclubindia
