Arun Prakash (Manager HR - Generalist) (112 Points)
16 September 2011Dear All,
can you please tell me a Tax exemption level for food coupon per month in the takehome salary of Rs.47500 and Rs.65000.
Urgent..........
Regards
Arun
Sunshine
(Helping All)
(10575 Points)
Replied 16 September 2011
food coupon exempt upto 50 per meal....
Vijay
(Adamo Studio)
(2112 Points)
Replied 16 September 2011
The value of free food and non-alcoholic beverages provided by the employer to an employee shall be the amount of expenditure incurred by such employer. The amount so determined shall be reduced by the amount, if any, paid or recovered from the employee for such benefit or amenity:
Provided that nothing contained in this clause shall apply to free food and non-alcoholic beverages provided by such employer during working hours at office or business premises or through paid vouchers which are not transferable and usable only at eating joints, to the extent the value thereof either case does not exceed fifty rupees per meal or to tea or snacks provided during working hours or to free food and non-alcoholic beverages during working hours provided in a remote area or an off-shore installation.
Landmark Judgments: Important Provisions of the EPF & ESI Act interpreted by the Honorable Supreme Court of India
CAclubindia
