SECTION 10(10BBC)

This query is : Resolved

prateek (Querist)
Follow

11 February 2009 Can any1 pls tell me that if income tax is paid by employer on perqs provided to employee than while calculating the GTI of employee are those perqs chargeable to tax again or it is exempt or only the tax paid is exempt

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
Follow

11 February 2009 The section is 10(10CC). Says about payment of incometax by employer on non-monetary perquisites. Such payment of tax is not taxable as a perquisite in the hands of the employee. While calculating GTI it should be included and simultenously claim exemption u/s 10(10CC) meaning therby it will not form part of the total income and thus no incometax is payble on that tax.

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