Dear All,
Under section 17-Perquisites. For the valuation of Food Meals, it is given that Rs.50/- per meal is exempt.
So does this means n number of Meals or is there any limit on such
Please Help
5 Replies
CA Himanshu Bansal
(Risk Manager)
(2345 Points)
Replied 15 October 2010
As per Rule 3(7)(iii) , if free food and non-alcoholic beverages provided by employer during working hours at offc/business premises or through paid vouchers non transferrable uable only at joint eatings, then value of meal upto Rs. 50 is exempt..
However, there is no limit specified for number of such meals..
Experts please comment.
CA. Abhishek K. Pandey
(Manager (Advance))
(901 Points)
Replied 15 October 2010
As it seems like Rs. 50.00 limit is for a day. Its not mentioned in section, but seems from sense.
Wait for others.
Vikas Gupta
(CHARTERED ACCOUNTANT)
(16295 Points)
Replied 15 October 2010
| Originally posted by : RAKESH | ||
 |
no limit as of such in the section. |
 |
Sunshine
(Helping All)
(10575 Points)
Replied 16 October 2010
well normally the employer will provide about 2-3 meals...i mean this is left for common sense i think....but the act is silent about it..
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