Notification of Income Tax on 18.12.09 regarding perquisites

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

28 December 2009 I wanted opinion on the notification of income tax on 18.12.09.

We show Telephone Reimbursement, Books Reimbursement & Meal Coupons in our employees CTC. And reimburse the same on submission of bills.
After the above notification whether all these will become taxable?
For Meal Coupons-notification says exempt upto 50 per meal in office hours, so how much amount can be made tax free?

Please if you can help me on the same

CMA. Dinesh S Adhikari, ACMA

CMA. Dinesh S Adhikari, ACMA (Expert)
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31 December 2009 Yes,

After notification all Above mentioned Perquisites will be taxable in the hands of employee. Because, this notification with restropective effect from 1st-April-2009.

About meal coupons, If coupons value Exceeds Rs. 50 per day meal in office working hours then that exceeded amount will be taxable. Say, value of coupon is Rs. 75 per meal (and per day):

Therefore, Taxable amount
= 75-50
= Rs. 25 per day

Regards!!!
Dinesh S. Adhikari

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