Rent free accomodation
This query is : Resolved
22 January 2013
Ours is Charitable Trust. We are providing Rent free Accommodation to our staff which are required on duty round the clock or to say, any time like drivers, cooks, watchman, some accountants etc.
We are not charging them any rent for the Premises but we are deducting their House Rent Allowance. Will this Accommodation be treated as Rent Free Accommodation. If yes, what will be the amount of perquisites to be added to their salary? (HRA is Rs. 1000 per month)
We are not charging them any rent for the Premises but we are deducting their House Rent Allowance. Will this Accommodation be treated as Rent Free Accommodation. If yes, what will be the amount of perquisites to be added to their salary? (HRA is Rs. 1000 per month)
26 January 2013
If they are not paying any rent, then HRA is taxable to them.
.
HRA is not deducted, as it is an allowance , it is given to the employees.
.
Perquisite for rent free house is a taxable perquisite depending upon the population of the city. You may show the amount deducted as received towards rent.
.
.
HRA is not deducted, as it is an allowance , it is given to the employees.
.
Perquisite for rent free house is a taxable perquisite depending upon the population of the city. You may show the amount deducted as received towards rent.
.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Fixe term employment
- Is any professional CA is here please reply
- Foreign lottery ticket bought online from India: legality, tax and consequences
- Experts need help
- Section 50-fixed asset-->building ceases to exist
- EXPORT BILL UNDER LUT FREIGHT CHARGE INCLUED IN INVOICE IT LIABLE TO TAX
- Putting a heading on received mail
- Gift Received from nonblood relative
- Tax Audit u/s 44AB for Transport Business A proprietorship is engaged in transportation business and
- Reprocessing of rectification order AY 2025-26
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
