who is specific employee as per income tax act
3 Replies
CA VISHAL RANA,CS,B.Com,AMFI
(Chartered Accountant in Whole Time Practice)
(4354 Points)
Replied 12 April 2010
SPECIFIED EMPLOYEE
1 WHO IS DIRECTOR EMPLOYED BY THE COMPANY
2 EMPLOYED BY THE COMPANY HAVE SUBSTANTIAL INTEREST IN THE COMPANY
3 EMPLOYED BY THE COMPANY WHOSE SALARY IS MORE THAN 50000 P.A
Varun Jain
(CA, B.com )
(392 Points)
Replied 12 April 2010
Employee can be categorized in 2 category
1.) Specified employee-
a) who is a director of a company
b)who has a substantial interest
c)who has a monetory income exceeding Rs. 50,000.
2.) Non specified employee-
An employee who is not fall above category is considered to be non specified employee.
ganesh bhandari
(B.Com Final C.A. Final CS Article Clerk )
(239 Points)
Replied 12 April 2010
Agree with Vishal and Varun.
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