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Salary head income
Respected Members,
I have a query regarding salary head income.
Fact of the query- An individual is director in private company. Company was not giving any remuneration to director but paid electricity exp. of residential property in which director reside. (Property is in the name of Company).
Query 1. Can electricity charges paid by company are taxable in the hand of director in salary head as perquisite u/s 17 (however there is no remuneration from company)
2. Electricity charges paid by company are allowable as exp. in the return of company .
3.any other provision if any ?
Replies (3)
no personal expenses should be charged to revenue in companys books if done it is disallowed in companys income tax return yes provision for electricity gas and water is considered as a perquisite in directors hands
Can we offer only perquisite (Electricity exp. paid by company) in the hands of director for tax in salary head source, irrespective of the fact that he is not having salary income from company
yes only perquisite alone can be shown in form 16 since he does not have any salary income else you should use Form 12BA
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