Treatment of perquisites

Tax queries 408 views 1 replies
We have purchased 9 laptops in the name of company. These laptops have been given to employees as a advance against salary and the cost of laptops are being recovered in twelve equal installments. 
Please advise us for accounting treatment, direct & indirect tax implications of the above transactions.
 
Replies (1)

It is a perquisite,

taxable as loan to given to employees(not taxable till Rs. 20,000)


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