definition of salary
This query is : Resolved
30 January 2010
Sir, for the purpose of calculation of valuation of housing accommodation provided by the employer, does salary include perqs also ?. If so,
is it not that perqs already taxed with salary and the same is again included in salary definition becomes double calculation. (i.e. perqs on perqs)?. Please comment. Thanks
is it not that perqs already taxed with salary and the same is again included in salary definition becomes double calculation. (i.e. perqs on perqs)?. Please comment. Thanks
CMA Ramesh Krishnan
(Expert)
30 January 2010
For calculation of housing accomodation perks salary meaning
1.Basic pay 2.Dearness allowance & pay (if forming part of retirals) 3.bonus 4.commission 5.fees 6.all other taxable portion of allowances 7.all monetary payment which is chargeable to tax
so it will not include the perquisites, therefore it is not double taxation
1.Basic pay 2.Dearness allowance & pay (if forming part of retirals) 3.bonus 4.commission 5.fees 6.all other taxable portion of allowances 7.all monetary payment which is chargeable to tax
so it will not include the perquisites, therefore it is not double taxation
31 January 2010
Sir, Thanks for comments.
Please advice further, whether some allowances like conveyance allowance, city compensatory allowance, children education allowance etc which have nothing to do with the accommodation provided by the employer are also to be included in the definition of salary for computation of valuation of perqs on housing accommodation provided. Thanks
Please advice further, whether some allowances like conveyance allowance, city compensatory allowance, children education allowance etc which have nothing to do with the accommodation provided by the employer are also to be included in the definition of salary for computation of valuation of perqs on housing accommodation provided. Thanks
01 February 2010
Yes, All these allowance will be included in computation of salary for RFA, but to the extent of taxable portion only.
Regards!!!
Regards!!!
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