Tax on food coupon encashed
This query is : Open
26 December 2012
Hi Ours is Ltd Co. if cash in place of food coupon given by company, TDS applicable? Is it like canteen allowance.
26 December 2012
Yes, in my view this is taxable as part of salary u/s 17.
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26 December 2012
Is there any restriction upto which amount co can give food coupon?
26 December 2012
Kindly refer to Rule 3 (7)(iii) of the Income Tax Rules.
Generally, the amt spent on free food is taxable in employees hands. Following are exceptions
a) if free food is provided during office hrs at office or business premises of employer OR
b) if paid thru non-transferable paid vouchers & usable only at eating joints
where value of each does not exceed Rs 50/-per meal.
Generally, the amt spent on free food is taxable in employees hands. Following are exceptions
a) if free food is provided during office hrs at office or business premises of employer OR
b) if paid thru non-transferable paid vouchers & usable only at eating joints
where value of each does not exceed Rs 50/-per meal.
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27 December 2012
If co give Rs.2500 p.m. food coupon which paid thru non-transferable vouchers & usable only at eating joints. This full Rs.2500 not taxable?
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