valuation of perquisites
This query is : Resolved
21 October 2009
how to solve the following point :
1.free car facility for x and his family members only for private use.(expenditure of the employer including normal wear and tear: RS.121000) Rs.121000
2.on october 1,2009,the employer gives a housing loan of Rs.1170000 @ 11% per annum(replayable in 15years)
solve it by(A) if a non government emplyee
(B) if goverment employee...
1.free car facility for x and his family members only for private use.(expenditure of the employer including normal wear and tear: RS.121000) Rs.121000
2.on october 1,2009,the employer gives a housing loan of Rs.1170000 @ 11% per annum(replayable in 15years)
solve it by(A) if a non government emplyee
(B) if goverment employee...
21 October 2009
1. If you are asking for the AY 2010-2011, then valuation rules are still awaited since treatment as perquisites in the hands of employee. If it is for AY 2009-2010 it will be taxed as FBT in the hands of Employer.
2. Employee can avail Deduction under section 24(b) for housing loan depending upon the whether self accupied or rented.
2. Employee can avail Deduction under section 24(b) for housing loan depending upon the whether self accupied or rented.
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
- REGARDING GST ON COMMERICIAL PROPERTY
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- TDS U/S. 194NF
- GST on export of services and Input Credit
- ITC temporary reversal and reclaim
- Applicable TDS rate for sale of property in Nov 2024
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- Event company query
- MIS MATCH OF INVOICE NUMBER
- VERIFICATION OF REFUND RELATED
- GST Regis.
- ITC c/f from FY2022-23 to FY2023-24 entered the same in table 8C of GSTR9 of FY 2022-23, in FY23-24
- Late filling fees Demand by gst office
- IGST Credit-Show cause notice issued-confusion
- Short and Excess provision of expenses
- Issue of gst e invoice
- Interchangeable words in accounts
Trending Online Classes
CAclubindia
