Fooding charges recovered from employees
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
01 October 2010
Dear Experts,
A mfg Co. is providing concessional fooding to its employees. Thus what are the treatment in hands of the co.in the following cases:
1)If the Co is taking Rs10/- from each employee and rest cost of Rs.20/- is paid by the co.to the canteen chef as total cost.
2) if Rs. 20/- is adjusted from the wages of the employees and the co. pays Rs. 30/- to the canteen chef.
Thnx in advance
A mfg Co. is providing concessional fooding to its employees. Thus what are the treatment in hands of the co.in the following cases:
1)If the Co is taking Rs10/- from each employee and rest cost of Rs.20/- is paid by the co.to the canteen chef as total cost.
2) if Rs. 20/- is adjusted from the wages of the employees and the co. pays Rs. 30/- to the canteen chef.
Thnx in advance
02 October 2010
free meals upto Rs. 50 is not taxable as perquisite
Querist : Anonymous
Querist :
Anonymous
(Querist)
02 October 2010
Dear Expert
I need the accounting entry for the same .
The reply is correct in case of taxation.
I need the accounting entry for the same .
The reply is correct in case of taxation.
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