Tax on Use of movable assets by employees
This query is : Resolved
Ashish Sethia
(Querist)
29 July 2023
As per the form 12 BA shared by my employer under the head "Use of movable assets by employees" I see an amount of Rs 1.52 Lakhs. Recently I was laid off by my employer and the work laptop was given to us after the layoffs. I am assuming that the 1.52 lakhs under 12BA is for the laptop. Is this amount tax exempted? If yes then in which article/section can i exempt it from
CA R SEETHARAMAN
(Expert)
30 July 2023
It's not exempt it's taxable.
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