Perquisites
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
03 December 2012
Dear Expert,
For our Ltd.Company MD paid House Rent except Electricity Bill & Tel.Ph.bill (MD's Residence- both) paid by an employer.
Pl suggest what is the treatment in Income Tax Under Perquisites.
Thanks.
For our Ltd.Company MD paid House Rent except Electricity Bill & Tel.Ph.bill (MD's Residence- both) paid by an employer.
Pl suggest what is the treatment in Income Tax Under Perquisites.
Thanks.
03 December 2012
Perquisite shall be taxable in the hands of the MD.
Value of perquisite = 15% of salary or rent paid, whichever is lower.
Value of perquisite = 15% of salary or rent paid, whichever is lower.
Querist : Anonymous
Querist :
Anonymous
(Querist)
03 December 2012
Dear Expert,
Thanku very much for reply but MD Personnely Rent paid & remaining expenses like Electiricity bill paid by Company.
Pl suggest in this case.
Thanks.
Thanku very much for reply but MD Personnely Rent paid & remaining expenses like Electiricity bill paid by Company.
Pl suggest in this case.
Thanks.
03 December 2012
OK. If is reimbursement of expenses, then the amount is not taxable.
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