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rashmi (Querist)
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31 July 2011 PLEASE GIVE ME ANSWER WITHIN 2 DAYS OR MAIL ME AT RASHMI.KALINDI@GMAIL.COM

Mr. F is the manager of Z Ltd. his son is a student of Amity International School.
School fees of ` 3,000 pm and hostel fees of ` 2,000 pm., are directly paid by Z
Ltd. to the school but it recovers from F only 40%. F also joins an advanced
course of Marketing Management for 3 months at IIM, Ahmedabad, fees of the
course, ` 1,50,000 is paid by Z Ltd. Determine the perquisite value of the
education facility. (4)

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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31 July 2011 School fees paid by Z Ltd for Mr. F`s son is fully taxable to the extent of recovered

Rs.3000 +Rs.2000 = Rs.5000 less 40% Rs.2000 balance Rs.3000 per month is taxable perquisite So Rs.3000x 12 =Rs.36000 taxable value of perquisite per year

Course fees paid for Mr. F. it is nature of training of the employee so not taxable

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