lNCOME TAX ACt

L.N. 16 01 I""

lNCOME TAX ACt

(CA " . 123)

IN exercise ofthc powel'$conferred byKCtion 84A and slolbseo;tion

(I) ofse<:!ion 94 ofthc lneome Tu Act , bereinafler referred !o as M!be

-_

Act-.!be Minis!er of finllllCC hu made the following rules: -

01._ . . .

I. ( I) These rules may be d Ied as !he Overtime and Pan·time

Work Rules, 1994.

(2) The provisions of these rules shall apply as from the \st

January . 1993 in respect oftbe yutof ·s,...sment 1994 and sub$eq\iCnt

years ofauessment.

"The relief on income from overtime work and part·time work

se! out in section 84A of the Act shall apply to an individlolal who is

resident and domiciled in Malll and is employed during the period

Provided that he or his wife does not have any shareholding in

the employing company or any participating rights in the profil5 of the

company or the enterpri5e and doeli not form part of the manage menl of

the company or the enterprise with .. hid! the individual is employed ,

$Ohowever thal!he provisions of this provi50shall 0(lI apply in tbe o;:ase

wbere

(I) the employee is eleeted by his feUow members to

represent tbem on the management board of the company or the

enterprise, or , if the company i,a publieone, be does DOt own more

than 5% of the shares of the respective company;

(b) the employee$ indiyidually or co1leclively hive a 5Cheme

of participation in the company or the enterprise.

Relicf on income from ovenime work is I<Uowed unde r the

following conditions

(a)

the individual is employed full·time; and

(b) the overtime was perfonned wilh the same company or

enterprise where be exen:ises his fun employment.

. -

(I) Relief on income from part·time work is allowed under ~

."

the following conditions

IOpon ......

(a)

the individual is in full·ti me employmenl;

(b) pan·time work is against n:mullCtlIOOn and the work ill

performed with a oompany or enlerprne different from thlt where

be exercisa hit full employment ; and

(~) the: inrome from part-time work does not include inoome

arising from the ucrtise of a trade Or a profession 1$ a self-

employed ~non .

(2) For the purposes of this rule the part-lime work is to be

~gistercd

with the Employment and Training CorporlItion and a

(:Crtificate 10 that effect is 10 be produced.

S. llIe Com missioner of Inl~nd Reve nue may, by nolio;e in the

Gazelle a nd under such oondillons as may be specified in such no(itt,

declare any type of activity 10 be pan-lime work , notwithstanding that it

does 00{ qualify u!>de. rule 4 hCrc<Jf.

'The maximum inco1lH: from ove rtime and part-lime work

which may qualify for relief shall nol uQ:td Lml ,500 in any year of

~nl .

'The maximum number of houn worked in overtime work

wh.idl mly qualify for rt:lief shallll(ll uoeed an avera~ ofn noUTlI for

cad! month in any year of 'sceuIDCD1 .

."Go " ,.,-.,r-

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