Mr X, GM, receives Rs 100000 per month as salary from Y Ltd. Out of salary received, he pay's Rs 5000 per month to his driver of car (car is provided by Co.) which is later on reimbursed by company.What will be the treatment of driver's salary in the books of company (Y Ltd) ?
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Treatment of driver
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company (Y Ltd.) show it is as a perquiste given to employee i.e. expenses. and in the hand of employee it is taxable, for the calaculation purpose Rs.600/- per month exempt. means 5000-600=Rs.4400/- taxable
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