Getting A Statement of Perquisites & Profits in Lieu of Salary is Legal Right of Every Employee?


The employees of  private sector , usually get various kinds of perquisites and many items of his emoluments may also fall under the heading  Profits in Lieu of Salary as defined u/s 17 of the Income Tax Act.It is very common knowledge that an employer is bound to issue TDS certificate in Form 16 to the employee , but do you know that an employer is legally bound to issue statement of erquisites or profits in lieu. In fact , many people will be quoting section 203 of the Income Tax Act which enforce the rule of issue of TDS certificate.

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