Pls help me with this Tax problem

Others 631 views 3 replies

Mr. F is the manager of Z Ltd. his son is a student of Amity International School.

School fees of  3,000 pm and hostel fees of  2,000 pm., are directly paid by Z

Ltd. to the school but it recovers from F only 40%. F also joins an advanced

course of Marketing Management for 3 months at IIM, Ahmedabad, fees of the

course,  1,50,000 is paid by Z Ltd. Determine the perquisite value of the education facility.

Friends, this is CWA problem. My doubt is with regard to education fees paid by employer for his employee  directly. The provision says" Other family members" does the Employee Mr.F also is included in that? pls help me in arriving at this solution. Thanks.

 

Replies (3)

F is employee and not considered as a family member, 

F is not considered as "Other family member" He is considered as an employee of Z Ltd. in this case.

So the amount given by employer to IIM towards Mr.F's Advanced study is a taxable perquite in the hands of Mr.F. Can i understand like this?

Thanks for ur timely reply.


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register