Valuation of free services to employees
This query is : Resolved
Kanad Chaudhari
(Querist)
21 March 2009
A company rendering telephone services provides them free of cost to its employees. The employees may use it for official as well as private purposes.
The company does not account for this.
The company's contention is that it incurs no additional cost.
Is the contention of the company valid or is it supposed to transfer a part of its operating expenses to employee remuneration and benefits?
The company does not account for this.
The company's contention is that it incurs no additional cost.
Is the contention of the company valid or is it supposed to transfer a part of its operating expenses to employee remuneration and benefits?
K V Subba Rao
(Expert)
21 March 2009
There is clear position with regard to supply of gas, electricity, water supply and transport provided free of cost in case of employers engaged in the business of respective fields. There appears to no similar provision for telecom companies
Dhirajlal Rambhia
(Expert)
28 June 2023
"Sorry, I am not a featured member."
For featured members contact....
https://www.caclubindia.com/catalogue/featured.asp
For featured members contact....
https://www.caclubindia.com/catalogue/featured.asp
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Late Filing Fee Waiver for Q1 Form 144 (Earlier 27Q) – Transition to Income-tax Act, 2025
- GST input credit on commercial property
- GSTR-9C filing
- GST ITC as per notification 12/2023- central tax
- Urd purchase entry in tally prime
- TDS- 2026-27 Q1 Correction
- Applicability of tax on invoice
- Advances to related party
- IMS (import of goods) ITC related
- Royalty payments to the Mining Department for procurement of murum - GST input
- Form 144 TDS Return Validation error
- GSTR9 Annual Return
- LLP audit and disclosure
- Subject: Legal Remedy for Removal of Income Tax Demand for AY 2024–25 – Charitable Trust
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
