19 April 2012
What will be the Accounting entry in the books of Employer for perquisites amount of Interest free or concessional rate loan given by employer to Employee. Whether employer can claim it as an Expense in the Books over and above the salary expense
19 April 2012
Virtual expenses are not allowed to be booked. Employer cannot claim opportunity costs. The perquisite will be taxable in the hands of the employee.
CAclubindia
