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Perquisites

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20 July 2010 Our company is giving free meal coupnes of Rs.1500/- per month.As provison says that it should be for working days ony.As the working day in the month remain 26 and on the said basis Rs.50/- per day for meal is allowed.I am in confusion that as per working days of 26 days 26*50=1300 are tax free and balance Rs.200/- will be taxable perk?Let me confirm if employee is on leave for 4-5 days than we have to maintain record for that and meal free meal coupon for leave days will be considered as taxable?

Pls reply.
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
08 August 2010 As per act Rs.50 per meal during office hours, you have record the office hours meal provided the same can be claimed as exemption
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