employee studies in employers institution
This query is : Resolved
RAKESH SHARMA
(Querist)
26 May 2016
Dear experts,
ashraf is an employee of moon public school. his daughter zara is studying in the said school at a concessional fees of Rs 600 pm( actual fees 4000 pm) the amount taxable in the hands of ashraf will be?? please advise
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26 May 2016
EDUCATIONAL FACILITY IN EMPLOYER’S INSTITUTE
Where the educational institution is owned and maintained by the employer and educational facility is provided orwhere such educational facility is provided in any institute by reason of employee’s employment with the employer, like employees of NCPEC are getting education facility in the schools maintained by NHPC-
Situation (i):
Where educational facility is provided to employee’s children
§ Where cost of education or value of such benefit does not exceed Rs. 1,000 per month per child (no restriction on number of children)
Amount chargeable to tax : Nil
§ Where such amount exceed Rs. 1,000 per month per child
Cost of such education in a similar institution in or near the locality minus Rs.1,000 per month per child minus amount paid or recovered from the employee.
Abhishek Ranjan Singh
ARS Solutions
www.arssolutions.co.in
+919022838615
Note : If you find our reply useful. Please Score us by clicking on "THANK USER"
Where the educational institution is owned and maintained by the employer and educational facility is provided orwhere such educational facility is provided in any institute by reason of employee’s employment with the employer, like employees of NCPEC are getting education facility in the schools maintained by NHPC-
Situation (i):
Where educational facility is provided to employee’s children
§ Where cost of education or value of such benefit does not exceed Rs. 1,000 per month per child (no restriction on number of children)
Amount chargeable to tax : Nil
§ Where such amount exceed Rs. 1,000 per month per child
Cost of such education in a similar institution in or near the locality minus Rs.1,000 per month per child minus amount paid or recovered from the employee.
Abhishek Ranjan Singh
ARS Solutions
www.arssolutions.co.in
+919022838615
Note : If you find our reply useful. Please Score us by clicking on "THANK USER"
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RAKESH SHARMA
(Querist)
27 May 2016
Dear Abhishek sir, so here it will be 4000-(600+1000) = 2400pm.
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27 May 2016
Yes, Here it will be Rs. 2400/- per month.
Abhishek Ranjan Singh
ARS Solutions
www.arssolutions.co.in
+919022838615
Note : If you find our reply useful. Please Score us by clicking on "THANK USER"
Abhishek Ranjan Singh
ARS Solutions
www.arssolutions.co.in
+919022838615
Note : If you find our reply useful. Please Score us by clicking on "THANK USER"
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