perquisites
This query is : Resolved
29 April 2010
In case if employer is providing education to employees children in his own institute costing rs.1500 per month , then what will be taxable amount in the hands of employee as perquisite.. plz reply as soon as possible ..
29 April 2010
TAXABLE AMT = COST OF SUCH EDUCATION IN A SIMILAR INSTITUTION IN OR NEAR LOCALITY - 1000 PM PER CHILD - AMT PAID OR RECOVERED
HENCE 500/- PM IS TAXABLE
HENCE 500/- PM IS TAXABLE
29 April 2010
Agree with Mr Ashok kumar
Only 500/- P.m will be taxable in the hand of employee as perquisite.
Only 500/- P.m will be taxable in the hand of employee as perquisite.
30 April 2010
i have heard, IN GD GOENKA PUBLIC HIGH SCHOOL ,2009 COURT RULING ...that if amount goes more than rs.1000 it will be fully taxable ... is it true..plz reply with acase law refrence , if possible.
30 April 2010
NO CASE LAW REQUIRED, IN VALUATION RULE ITS CLEARLY MENTION THE FORMULA OF TAXABLE AMT IS
TAXABLE AMT = COST OF SUCH EDUCATION IN A SIMILAR INSTITUTION IN OR NEAR LOCALITY - 1000 PM PER CHILD - AMT PAID OR RECOVERED,.
HENCE 500/- PM IS TAXABLE
TAXABLE AMT = COST OF SUCH EDUCATION IN A SIMILAR INSTITUTION IN OR NEAR LOCALITY - 1000 PM PER CHILD - AMT PAID OR RECOVERED,.
HENCE 500/- PM IS TAXABLE
30 April 2010
sir , i do agree with your formula concept , but if a court gives a verdict should we ignore it ? am confused
01 May 2010
IF YOU HAVE ANY CASE LAW AGAINST THEM THEN YOU CAN FOLLOW THE SAME CASE LAW
02 May 2010
My view the case laws are based on the specfic facts on the particular case, in your case all the facts of case law is applicable you can follow
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