Taxability of food allowance
This query is : Resolved
21 May 2012
My company is a JV MNC registered under Indian Companies Act. as Private Limited Company.
Some of the overseas employees are employed in our company (From japan and Korea). The food is bought from the korean restaurant and provided at free of cost. The cost per food is Rs.400 per food.
Kindly advice me the tax impact of the same.
Also advice me whether the tax for the same can be beared by the company?
Some of the overseas employees are employed in our company (From japan and Korea). The food is bought from the korean restaurant and provided at free of cost. The cost per food is Rs.400 per food.
Kindly advice me the tax impact of the same.
Also advice me whether the tax for the same can be beared by the company?
27 May 2012
This is taxable in the hands of the employee. Company can bear the tax.
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