Meaning of tax terms

Meaning of “As may be prescribed “

Posted on by Prashant Thakur

Case Name : V.K. Prasad vs. Union of india 

Citation : [2004] 271 ITR 178 (ker.)

Court : Kerala high court

Section : 17

Meaning : The expression ‘as may be prescribed’ occurring in sub-clause (vi) of clause (2) of section 17 has necessarily to be understood as conferring power on the rule-making authority to prescribe what is ‘fringe benefit’ or amenity.

Prashant Thakur

The author has spent more than 30 years in the field of taxation. Wrote four books -3 on on Indian Tax Law and 1 on US tax law for cryptocurrency. Apart from https:taxworry.com , he also writes on https://irstaxapp.com which is for US tax laws. He is a tech enthusiast and manages a cloud computing company that publishes innovative software.

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