Query of income tax

This query is : Resolved

Bhavik Sankhla (Querist)
Follow

16 February 2015 what is the difference between 1. perquisites taxable in case of all employees and 2. perquisites taxabla in case of specified employees ?? I am not able to understand difference between all employees and specified employees

c.bakshi

c.bakshi (Expert)
Follow

17 February 2015 SPECIFIED EMPLOYEE:

1. A Director Employee is a specified employee in the company in which he is a Director, irrespective of the fact whether he was full time or part time.

2. An Employee having Substantial Interest, i.e., 20 % or more of Voting power in the Employer company

3. An Employee drawing Salary in excess of Rs. 50,000/-, where salary includes, All non monetary benefits + Only taxable part of Allowances Less Deduction for Entertainment Allowances and Professional tax.

the person who does not fulfilled any of the above condition is covered under the meaning of Ordinary employees
a. Sweeper, gardener or watchman provided by the employer
b. Free Supply of Gas, Electricity or Water
perq is not taxable to ordinary employee

and Who cover under the above provisions is called specified employees and point a and b is taxable only in case of specified employee

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

R B Pethe

Amit Bhatkar

Devendra Singh Jyala

Nilesh Manek

Konijarala prasad

Subscribe Now

Query of income tax

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Senior Executive

Manager- Finance and Compliance

GST CONSULTANT

GST CONSULTANCY

Accountant

CA Final

Article Assistant

Associate CA