Salary includes for valuation of rent free accommodation
This query is : Resolved
30 March 2011
Dear all,
Please revert urgently:
for the purpose of valuation of perquisite in respect of rent-free accomodation, salary includes "any monetory payment which is chargeable to tax (by whatever name called)". however, value of perquisite u./s.17(2)does not include in salary for this purpose. Now my question is reimbursement of education fees to employee should be included in salary for this purpose.
rgds, ramesh
Please revert urgently:
for the purpose of valuation of perquisite in respect of rent-free accomodation, salary includes "any monetory payment which is chargeable to tax (by whatever name called)". however, value of perquisite u./s.17(2)does not include in salary for this purpose. Now my question is reimbursement of education fees to employee should be included in salary for this purpose.
rgds, ramesh
CA. Lohith Jagadeesh
(Expert)
30 March 2011
Hi,
No it shall not be included as part of "Salary" for calculation of RFA as reimbersement of education fees to the employee will amount to a Perquisite.
Thank you,
Regards
CA. Lohith. J
B.Com,ACA,CS,(ICWA),SAPM Hons,ITF Hons
No it shall not be included as part of "Salary" for calculation of RFA as reimbersement of education fees to the employee will amount to a Perquisite.
Thank you,
Regards
CA. Lohith. J
B.Com,ACA,CS,(ICWA),SAPM Hons,ITF Hons
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