There was a news that tax on perquisites of salaried class will be no longer from Fin .Yr. 2018-19 as per the Budget for 2018-19.
Pl. clarify.
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tax on perquisites
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From Fin .Yr. 2018-19 there will be standard deduction of Rs. 40,000/-, specifically available to salaried class.....as per the Budget 2018.
I refer to the news item of money control.com for clear clarification. Does this mean that perks meant in the news item refer to only transport allowance and medical expenses and others are taxable
Yes. Only transportation allowance and reimbursement of medical expenses were replaced by standard deduction of Rs. 40,000. other perks are taxable as usual.
Thanks to the experts.
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