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BABITA (student) (77 Points)

10 April 2010

QUES while calculating salary for rent free accomodation gratuity encashed of earnd leave will be added or not???

ques

one house has two flats and let out . one remain vacant for two month because tenant has left the house. then Gross annual value will calculated as whole or by takinf half half house??

ques..

If emloyer gave gift of value Rs. 4700 on ceremony and 500 on birthday of employee.

what wil be the treatment in employee income if employer is liable to fringe benefits tax.

ques.

salary received from indian company carring business outside india and employee renderd service outside india , salay received there , & deposited there. Is it will be included in the income of non ordinary or non resident.

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2 Replies

Amir (Learner) (4016 Points)
Replied 11 April 2010

Dear Babita,

1) Gratuity & Leave encashment if received during service will form part of Salary for the purposes of computation of RFA.

2) I need to know whether other part was let out or Self occupied - If self occupied & owner has no other House property then GAV shall be calculated only in respect of Half portion (let out) & Loss due to vacancy can be claimed depending upon the actual rent & fair rent.

Whereas if other falt is also let out then also for those two months Loss due to vacancy can be claimed...

3) Aggregate value of Gifts on ceremony & Birthday exceeds 5,000 - then entire sum will be taxable as salary since it is not necessary that gift at a particular point of time should exceed 5,000

Though FBT is no more but in those circumstances the above gifts will not form part of salary.

4) No if the assessee is "Non resident" or "Not ordinarily resident". [since income was neither accrue or aride or deemed to accrue or arise nor received or deemeed to be received in India]