Taxability of htc
This query is : Resolved
Aurabinda Sil
(Querist)
12 November 2014
Sir,
In our company, a Public Utility PSU, employees residing (their home) beyond 400 KM from office address get Home Travel Concession once in a year. LTC can not be enjoyed in the year in which HTC is enjoyed as per rules of the company. Only train fare or bus fare is reimbursed to them. My question is that is the HTC fare is taxable under the Income Tax Act 1961. The book has not clearly mentioned anything in this regard. This can also be mentioned that HTC is a common benefit accorded to employees residing at a place distant from their office to enable them visit their home place once in a year.
Thanking,
Yours faithfully,
Dt. 12 Nov 2014 A.Sil, Siliguri
In our company, a Public Utility PSU, employees residing (their home) beyond 400 KM from office address get Home Travel Concession once in a year. LTC can not be enjoyed in the year in which HTC is enjoyed as per rules of the company. Only train fare or bus fare is reimbursed to them. My question is that is the HTC fare is taxable under the Income Tax Act 1961. The book has not clearly mentioned anything in this regard. This can also be mentioned that HTC is a common benefit accorded to employees residing at a place distant from their office to enable them visit their home place once in a year.
Thanking,
Yours faithfully,
Dt. 12 Nov 2014 A.Sil, Siliguri
Amol S Joglekar
(Expert)
12 November 2014
In the absence of specific WORDS in the income tax Act, this is taxable.
Aurabinda Sil
(Querist)
12 November 2014
This is known to every body. So simple answer may not help. References or case laws may be cited.
Amol S Joglekar
(Expert)
12 November 2014
No reference or case law is needed for that.It is unambiguous. So no question of any interpretation.
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