PERQUISITES
This query is : Resolved
hamsa lekha
(Querist)
26 November 2008
company will provide a mobile piece for use. Is it a taxable perquisite?
As per the provisions of Sec 17(3) read with Rule 3, use of any movable asset by the employee is a taxable perquisite to the extent of 10% p.a of the actual cost of asset to the employer.
if it's taxable perquisite, is it sufficient of including the value of perquiste in total income of the employee and deduct TDS on that total Income.
As per the provisions of Sec 17(3) read with Rule 3, use of any movable asset by the employee is a taxable perquisite to the extent of 10% p.a of the actual cost of asset to the employer.
if it's taxable perquisite, is it sufficient of including the value of perquiste in total income of the employee and deduct TDS on that total Income.
CA.ViVeK M ACA
(Expert)
26 November 2008
Use of telephone including cellular connection but doesnot includes the leased lines are fall within the meaning of the perquisite.It shall be included in the total value and deduct the TDS
hamsa lekha
(Querist)
26 November 2008
thank you vivek and kotesh
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