Valuation of perquisite
This query is : Open
09 February 2013
If a person getting the facility of free education of child from employer and cost of education is Rs 1200 pm then what will be the value of taxable perquisite ?
09 February 2013
Hi jasbir,
if the school is owned or maintained by the employer then, value of perk is equal to:
Market cost of education less 1000 per month per child,
but if the school or college is not owned or maintained by the employer then, the entire cost is taxable. In your case, Rs. 1200 per month per child is treated as perk.
if the school is owned or maintained by the employer then, value of perk is equal to:
Market cost of education less 1000 per month per child,
but if the school or college is not owned or maintained by the employer then, the entire cost is taxable. In your case, Rs. 1200 per month per child is treated as perk.
16 February 2013
thax a lot
school is owned by the employer and cost of education is Rs.1200.PM
so what is taxable amount
1200-1000=200PM
or
Rs.1200
school is owned by the employer and cost of education is Rs.1200.PM
so what is taxable amount
1200-1000=200PM
or
Rs.1200
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
- Is this income indian or foreign income?
- REGARDING GST ON COMMERICIAL PROPERTY
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- GST on export of services and Input Credit
- TDS U/S. 194NF
- ITC temporary reversal and reclaim
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- Applicable TDS rate for sale of property in Nov 2024
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding einvoice taken on nil rated sales
- Strategical investment in Public listed company
Trending Online Classes
CAclubindia
