Tax on Taxation
This query is : Resolved
18 September 2008
I have a doubt in taxation.
If an employer pays tax of the employee it is considered as a perquisite and is taxable on it.
Hence tax must be paid on the tax which the employer pays. But this will become a never ending situation as whenever u pay tax of the employee u will go on paying tax on tax.
Is there any equation to find out such amount which has to paid.
Kindly answer me
If an employer pays tax of the employee it is considered as a perquisite and is taxable on it.
Hence tax must be paid on the tax which the employer pays. But this will become a never ending situation as whenever u pay tax of the employee u will go on paying tax on tax.
Is there any equation to find out such amount which has to paid.
Kindly answer me
S.Srinivasaraghavan
(Expert)
18 September 2008
After the recent decision in SC, tax on tax is not a perquisite.
CA Nitin Wadhwani
(Expert)
18 September 2008
Sec.10(10CC)- Tax Paid By Employer Is Non Monetary Benefit And Hence Not taxable.
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