22 May 2009
A company adds Corporat Attire as a Salary Component in Salary structure for its employees. Now as per IT rules, I think the amt paid will be exempt from employees hand upto amt actually incurrd by them and will also not attract any FBT for company. Am I right or not? If its possible, what precuations or records Company/Employee is required to maintain?
22 May 2009
you are right.Uniforms form part of the employment requirement and is therfore not a perquisite As far as the employee is concerned he need not bother about this unnessarily
23 May 2009
What care should Company take in this regard? Shd company collect actual bills for amt incurred upon Uniform and keep them all or return back to employees?
CAclubindia
