What is perquisite tax on expenditure to pay life insurance?
This query is : Resolved
09 March 2012
If a company pays the premiums under employer employee scheme, if the policy is being assigned to the individual after a few years, Perquisite Tax is liable on surrender value.
What is the percentage of Perquisite Tax?
I understand IT or Perquisite Tax is not liable if the premiums paid till then are less than 20% of sum assured. Please comment
What is the percentage of Perquisite Tax?
I understand IT or Perquisite Tax is not liable if the premiums paid till then are less than 20% of sum assured. Please comment
31 March 2012
In this case no perquisite as the installment is paid by the employee himself and the company's liability seizes.
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