16 September 2009
pls help me ....... my co is planning to give meal vouchers to employees which are used at food outlet. the sales girl of sodexo has given offer to take 2600 p.m per employee but my confusion is that in salary chapter as per I.T it it is written Rs 50 per meal or less i.e (50 x 2mealsperday x 25days x 12)=30000 p.a. we canot take 26days.or what is the limit and where it is written?
17 September 2009
i think the cap on valuation was removed long back after FBT was introduced . It(Paid vouchers) cannot be taxable anyways cos its covered under chapter XII H and are also not a prescribed perquisite for valuation they will not be taxable in the hands of employees.
CAclubindia
