Income tax Query

This query is : Open

Querist : Anonymous

Querist : Anonymous (Querist)

18 September 2010 1) perquisite on motor car. If the Motor car is owned by employer and
running and maintenance cost is borne by employee. Then what about the
Conveyance allowance or transport allowance under section 10 800/- p.m. The conveyance allowance is given in salary package.

2) Payment of freight to Non resident non shipping company by resident
indian tds applicability. under what section

3) TDS on Director sitting fee ( Board Meeting)

4) proof for LTA/LTC necessary.

Thanks

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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18 September 2010 1. Transport allowance will be allowed Rs.800 per month

2.yes. TDS applicable

3. TDS not applicable

4.Even though the judgements are there for documents not required, as employer point of view, it is required to calculate the correct TDS

Message likes : 1 times

CA. BIJENDER KR. BANSAL

CA. BIJENDER KR. BANSAL (Expert)
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18 September 2010 agreed with Mr. Ramesh
As per my opinion there will be add perquisite for use of asset of company

Use of assets - It is common practice for an asset owned by the employer to be used by the employee or any member of his household. This perquisite is to be charged at the rate of 10% of the original cost of the asset as reduced by any charges recovered from the employee for such use. However, the use of Computers and Laptops would not give rise to any perquisite.

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Querist : Anonymous

Querist : Anonymous (Querist)

21 September 2010 1) perquisite on motor car. If the Motor car is owned by employer and
running and maintenance cost is borne by employee. Then what about the
Conveyance allowance or transport allowance under section 10 800/- p.m. if the conveyance allowance is given in salary package.

2) Payment of freight to Non resident non shipping company by resident
indian tds applicability. under what section

3) TDS on Director sitting fee ( Board Meeting)

4) proof for LTA/LTC necessary.