As per sec 10(10C C) the tax paid by employer on non monetary perquisite on behalf of employee would be exempt in hands of employee"
Can anyone please explain this? Is this provision talking about" tax free perquisite for all employee " category? ie. Medical facilities within prescribed limit,refreshment, Employer contribution to Staff group Insurance scheme?
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Sec 10(10 CC)
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Section 10(10CC) allows an employer to pay the income tax on an employee's non-monetary perquisites without that tax payment being counted as additional taxable income for the employee. In exchange, the employer cannot claim that tax payment as a deductible business expense.
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