definition of salary

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p.e.rao

p.e.rao (Querist)
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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

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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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

p.e.rao

p.e.rao (Querist)
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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

CMA. Dinesh S Adhikari, ACMA

CMA. Dinesh S Adhikari, ACMA (Expert)
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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!!!

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