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.

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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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.

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.

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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03 December 2012 OK. If is reimbursement of expenses, then the amount is not taxable.

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