Deepak Kumar Sancheti (CA) (124 Points)
12 April 2017I am working in a company where company's policy is that an employee can buy his/her laptop and the company will reimburse the same in there respective bank account.
So, In this case I bought laptop of suppose Rs. 40,000/- in cash but compnay reimbursed me the samw amount in my bank account.
My question is how should I treat that reimbursed amount in my books & ITR and Will it form a part of my salary??
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(177741 Points)
Replied 12 April 2017
"Will it form a part of my salary??"
No, if the company is considering it as an asset and claiming depreciation over it.
Dixit
(CA Final)
(2405 Points)
Replied 12 April 2017
| Originally posted by : Dhirajlal Rambhia | ||
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"Will it form a part of my salary??" No, if the company is considering it as an asset and claiming depreciation over it. |
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No, it will not a part of your salary because you made expense on behlaf of the company and for that you got reimbursement from the company.
Deepak Kumar Sancheti
(CA)
(124 Points)
Replied 12 April 2017
Company is not treating as an asset.
Moreover what i will be showing in my books??
What will be its Tax implication??
Deepak Kumar Sancheti
(CA)
(124 Points)
Replied 12 April 2017
What will be my tax implication. How I will show in my books of that reimbursed amount in bank
Sumeet
(CA)
(537 Points)
Replied 12 April 2017
Laptop provided by Employer for use of Employee is not a taxable perquisite in the hands of Employee. Hence it will not have any Tax implications.
Deepak Kumar Sancheti
(CA)
(124 Points)
Replied 12 April 2017
How i will be showing that in my books?
Sumeet
(CA)
(537 Points)
Replied 12 April 2017
Show it as part of salary recieved in your books since it is given free of cost to you by your employer. But at the time of filling your return of income, take value of that perquisite as NIL.
Sivaiah Ganga
(68 Points)
Replied 17 April 2017
Sumeet
(CA)
(537 Points)
Replied 18 April 2017
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