Tax paid by employr u/s192(1a) for employe on preqa u/s17(2)
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
26 July 2011
Taxes paid by employer on behalf of employee for non monetry preqs availed during the year should be added in total salary income of employee as preqs ? is this treatment correct
For Eg Total Perqs availed as per form 12BA is 62449/- and tax on same paid by employer on behalf of employee is 12704/- so 12704/- is to be addded in income chargeable under head salaries of the employee??
For Eg Total Perqs availed as per form 12BA is 62449/- and tax on same paid by employer on behalf of employee is 12704/- so 12704/- is to be addded in income chargeable under head salaries of the employee??
26 July 2011
No need to include in income. Rs.12,704/- should be treated as TDS as per section 192(1B) of the IT Act,1961.
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Querist : Anonymous
Querist :
Anonymous
(Querist)
26 July 2011
Sir thanks a lot
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