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) ?
1 Replies
G!rdhar! Jang!d
(Tax Consultants )
(680 Points)
Replied 28 July 2010
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
Recent Topics
- Form 3CEAA and Form 3CEAB
- DIR 3 Web KYC
- Can i declare LTCG income as business income if I
- Stock entry in new software
- I have an EMI collection shop, what is its SAC cod
- Making payment once in quarter possible under QRMP
- Master File Documentation related
- Applicability of 44AD needs clarification
- ITC reversal in GST 3B
- Claim if ITC on stocks 19-2020 conversion from com
Related Threads
CAclubindia
