Tax on perquisites - no one is able to answer :(

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

06 August 2015 Dear Experts

I have a case where tax on monetary perquisites is directly paid by employer and the amount so paid is included in salary income as per Form 16.

Employer has provided Form BA which shows the value of perqs and tax paid thereon but the tax has not been shown under TDS in Form 16. Also the same is not appearing in 26AS.

Please suggest how to claim rebate of the tax already paid by employer (which is a nationalised bank). Thanks a lot in advance.

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CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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06 August 2015 Check form 16 non monetary perks on which tax has been paid by employer not included in form 16, but only included in 12BA.
File the return excluding non monetary perks on which tax has been paid by employer.

Querist : Anonymous

Querist : Anonymous (Querist)

06 August 2015 Reforming the question:

Should the Tax directly paid by employer appear in 26AS as TDS?

If it should, how to claim the credit if not appearing in 26 AS?

Thanks

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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06 August 2015 No it will not appear. Don't include the perks in your income so you need not claim credit for it.

CA Punit

CA Punit (Expert)
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06 August 2015 Hi Seetharaman,
Its about MONETARY perqs. Employer has added the value of these perqs and tax paid on it in salary income in Form16.

Since the tax has already been paid by employer there is no need fir the employee to pay again. But the tax paid is not appearing n 26AS, so how to claim it's credit, that is the question.

CA Punit

CA Punit (Expert)
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06 August 2015 You may file the return claiming the credit.

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