Company A reimburses expenses to its employees incurred on buying baggage, clothes, medicines etc on their first travel on projects outside their place of working. Is this amount taxable as perks under the income tax act.
Please advice.
2 Replies
Devendra
(Chartered Accountant)
(4775 Points)
Replied 21 March 2011
I think so it should be taxable as Perquisites.
Regards,
Devendra
U S Sharma
(glidor@gmail.com)
(21063 Points)
Replied 21 March 2011
if the travel is related to job, then company will book it in travelling expenses, and exclude from salary, but if the travel is shifting related for change of place then it would be counted as component of salary and taxable.
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