plz tell me wht wil b the tax implication of insurance paid by employer on behalf of employee.
plz tell me wht wil b the tax implication of insurance paid by employer on behalf of employee.
It will be added in salary of employee as a perquisite, and accordingly TDS will be deducted u/s 192
| Originally posted by : Yajendra Adhikari | ||
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It will be added in salary of employee as a perquisite, and accordingly TDS will be deducted u/s 192 |
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Agreed the tds rate is the slab rate
| Originally posted by : Archana Das | ||
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I agree with all and further if the insurance is for company safe ie., policy taken as transit insurance on employees (who are regularly travelling on Official purpose from office to variouse places like banks, Govt Dept) etc, the same will be treated as business expenditure and not taxable under the hands of employee.
thanks to all
CAclubindia
