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Tax implication

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(Querist)
07 December 2015 Whether free tour package provided to the distributor of a company is taxable in the hands of the distributor if yes ,under which section
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CA CMA CS Ram Pavan Kumar Melam

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CA CMA CS Ram Pavan Kumar Melam (Expert)
08 December 2015 Please refer section 28(iv) which says:
the value of any benefit or perquisite, whether convertible into money or not, arising from business or the exercise of a profession.

Your query may fall under this category and the distributor needs to offer the value of such benefit i.e. cost of tickets and travel expenses to income tax.

This is a very good query and interesting as well.

Tracking such benefits is very difficult under present system of government functioning. Hope, very soon, the government could be able keep a tab on entire movements of its assesssees through e-governance.
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