Tax on perquisites
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
08 August 2011
Often, company pays tax on non-monetary benefit perquistes.
Ques-(1)Does such tax, gets added , to the employee's income?
(2) Can company claim , such tax paid as expenses , for getting tax benefit?
(Tax on perquisties , is liablitiy of employee)
Often, company pays tax on non-monetary benefit perquistes.
Ques-(1)Does such tax, gets added , to the employee's income?
(2) Can company claim , such tax paid as expenses , for getting tax benefit?
(Tax on perquisties , is liablitiy of employee)
08 August 2011
As per section 10(10CC) of the Income tax act. the tax on perquisite paid by the employer on behalf of employee, the tax amount which paid by employer not taxable in the hands of employee, it is exempted
but incase of employer- the above said tax paid by employer shall not treated as allowable expenses u/s.40(a)(v)
but incase of employer- the above said tax paid by employer shall not treated as allowable expenses u/s.40(a)(v)
09 August 2011
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