Perquisite
This query is : Open
12 January 2010
(i) In terms of new perquisite valutation rules, 2009 whether cash gift to the extenet of Rs. 4,500 is taxable, if given by employer to his employee.
In terms of circular no. 15/2001 dt. 12.12.2001 under IT Act, gift made in cash or converible into cash, like gift cheque etc. do not fall in the perview of exemption catagory i.e., taxable.
(ii) for uniform allowance is it necessary to have a single dress code in a company or it also includes different formal dress in same company.
In terms of circular no. 15/2001 dt. 12.12.2001 under IT Act, gift made in cash or converible into cash, like gift cheque etc. do not fall in the perview of exemption catagory i.e., taxable.
(ii) for uniform allowance is it necessary to have a single dress code in a company or it also includes different formal dress in same company.
12 January 2010
gift upto rs.5000/- in a fy is exempt for employee.
12 January 2010
Yes , up to Rs.5000/- not taxable
12 January 2010
agree to expert
13 January 2010
But according to section 17(2)(vi), where taxability of gift given, it is also given that Rs. 5,000 limit is not applicable in Gift is in the nature of CASH.
Therefore, These 4,500 will be taxable in the hands of employee.
2) That uniform allowance is for maintenance for the uniform. But, if you are not wearing your uniform in office it means that you are not spending that Uniform allowance for official purpose, therefore full amount will be taxable.
Regards!!!
Dinesh S. Adhikari
Therefore, These 4,500 will be taxable in the hands of employee.
2) That uniform allowance is for maintenance for the uniform. But, if you are not wearing your uniform in office it means that you are not spending that Uniform allowance for official purpose, therefore full amount will be taxable.
Regards!!!
Dinesh S. Adhikari
14 January 2010
In terms of circular no. 15/2001 dt. 12.12.2001 under IT Act, gift made in cash or converible into cash, like gift cheque etc. do not fall in the perview of exemption catagory i.e., taxable
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
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- STCG....................................................
- Sales return eway bill
- Treatment of Pension ?annuity returns on PMVY
- TAN for Partnership
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- CA IPCC Registeration in 2012, Is my registration Active or Expired
- Small dealers gst returns filing
- Free lancer income
- LTCG for Assmt year 26-27
- Gst invoice numbering and delivery challan numbering
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- Nomination of Bank for refund in itr 2
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
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
