canteen subsidy under income tax

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GANESH S DHUMAL (Querist)
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27 July 2010 Kindly let me know is there any tax concession for canteen subsidy incurred by companies.

We are having the canteen run by the contractor. We are paying 100 % to the contractor and recovering 25 % from the employee. Balance 75 % treated as subsidy.
If you provide both accounting treatment and taxation aspect, it will be helpful to me.

thanks

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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03 August 2010 Accounting treatment need to debit emplyee expenses and tax if the value of per meal during office hours exceeds Rs.50 the excess amount

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