what is the treatment when any perquisite is provided by the employer to the employee?
1 Replies
Giridhar S Karandikar
(Team Lead)
(7548 Points)
Replied 29 June 2012
there are perquisites that are totally exempt from tax, perquisites that are taxable only in case of specified employees & taxable perquiisutes for all the assesses.
So the perquisite provided by the employer will have judged if it taxable or not. Accordingly the value of the taxable perquisite will be determined & that will get added to your salary income & TDS will be made acordingly.
Please go through Rule 3 of the I-T Rules for better understanding.
Recent Topics
- GST registration -notice
- GSTIN Suspended Form GST Reg 17
- Request for GST Clarification regarding ITC
- Is Capital Gain exemption available for Property a
- EPF CONTRIBUION BY EMPLOYER
- Letter of credit -seller procedure
- Filling form 26 QB
- RPT AND ITC ISSUE
- Tax Liability and ITC Summary related Issues
- REQUIRED FORMAT FOR AMENDMENT TO PARTNERSHIP DEED
Related Threads
CAclubindia
