whether meal card allowance given to employees attracts FBT for employer ? & what is tax treatment for employees.is it taxable perquisite or not ? ex 1000/- pm meal card allowance
ANSHUMAN KHANDELWAL (JOB) (311 Points)
31 October 2008whether meal card allowance given to employees attracts FBT for employer ? & what is tax treatment for employees.is it taxable perquisite or not ? ex 1000/- pm meal card allowance
S.Srinivasaraghavan
(Chief Financial Officer and Co)
(11318 Points)
Replied 31 October 2008
If it ias a cash allowance it is subject to normal tax as salary and therefore out of FBT
Rupesh Maheshwari
(ACA, Dip. IFR (ACCA))
(6166 Points)
Replied 31 October 2008
it will be fully taxable 4 employees note dat it is not a perquisite but an allowance as it is recd in cash form.
i think it will not be taxable in the hands of the employer as FBT
S.Srinivasaraghavan
(Chief Financial Officer and Co)
(11318 Points)
Replied 31 October 2008
An allowance taxed as a salary can not be included for FBT.
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