Meal coupons- limit per day
This query is : Open
09 December 2009
Due to abolition of FBT, now the food coupons will be categorized as perquisites in the hands of employee if as per rule 3 value of meal exceed Rs.50 per meal.
Any one can suggest a maximum reasonable limit of food coupons we can give to employees per month as per rule? I am asking because I got an information from Accore serivces Website as follows,
"If you opt for Ticket Restaurant® Meal Vouchers @ Rs. 100/- per working day, instead of cash in your salary, the tax you save on Rs. 31,200 i.e. (Rs. 100/- x 26 days x 12 months)"
Is it possible to give Rs 100/- per day ?
For Ref: https://www.accorservices.co.in/ProductAndServices/TicketRestaurantMealVouchers/Pages/FAQ.aspx
Any one can suggest a maximum reasonable limit of food coupons we can give to employees per month as per rule? I am asking because I got an information from Accore serivces Website as follows,
"If you opt for Ticket Restaurant® Meal Vouchers @ Rs. 100/- per working day, instead of cash in your salary, the tax you save on Rs. 31,200 i.e. (Rs. 100/- x 26 days x 12 months)"
Is it possible to give Rs 100/- per day ?
For Ref: https://www.accorservices.co.in/ProductAndServices/TicketRestaurantMealVouchers/Pages/FAQ.aspx
09 December 2009
Rule 3 should prevail i.e.Rs. 50 per meal...
all the conditions in rule 3 would apply while taxing these transaction
all the conditions in rule 3 would apply while taxing these transaction
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Account freezed for Ineligible ITC Scrutiny for GST Annual Return
- TDS on property - Form 141 query
- Seeking Advice: High Tax Shortfall on Job Switch + Let-Out House Property Loss in FY 2025-26
- Housing Society-ITR5
- TDS on Rent received on redevelopment of building
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
