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
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
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
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
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
- Depreciation Chart Companies Act
- GST Audit whether Govt Companies are exempt?
- PTRC Show Cause Notice on Email
- Unable to File TDS Q2 Return – New TRACES Portal Error
- Accounting treatment of AMC alongwith the purchase of Laptop
- Capital Gail Exemption Certificate
- Issuing of delivery challan by seller of goods
- Taxation of crypto futures in India Fy 2026- 2027
- EPF ECR NEW RULES Sep 17th 2026
- Transfer of Physical Stock Between Two Proprietorship Concerns
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
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
