canteen subsidy under income tax
This query is : Resolved
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
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
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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