02 July 2010
If company has incurred Rs. 25lacs on purchase of furniture and AC etc for director residence which is actually occupied by director for his residence and pay rent himself.
What will be the tax implication on above situation.
02 July 2010
It is considered as perqusite provided by the employer to the employee. The amount which shall be taxable will be equal to 10% of actual cost of asset less any amout recovered.
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