taxability of perks
This query is : Resolved
23 December 2009
deptt has issued a circuler on dec 18-2009 regarding taxability of perks what i want to know is taxability of following allowances paid to employees alongwith salary (without production of evidence):-
1)telephone home rs.1200/- per month
2)medical reimb rs.1250/- per month
3)cash coupons in the form of direct credit with salary rs.1000/- per month
4)transport allowance rs.3200/- per month
1)telephone home rs.1200/- per month
2)medical reimb rs.1250/- per month
3)cash coupons in the form of direct credit with salary rs.1000/- per month
4)transport allowance rs.3200/- per month
CMA Ramesh Krishnan
(Expert)
23 December 2009
Telephone at home= fully taxable
medical reimbursement= exempted up to Rs.1250 p.m.( actual production of bills only)
Cash coupons- fully taxable
Transport allowance= Rs.800 p.m Exempted excess is taxable
Telephone at home= fully taxable
medical reimbursement= exempted up to Rs.1250 p.m.( actual production of bills only)
Cash coupons- fully taxable
Transport allowance= Rs.800 p.m Exempted excess is taxable
CA Ravi Sisodia
(Expert)
23 December 2009
Agree with expert, in addition exempt Rs.50 per meal.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Gst credit note by supplier
- Reward for festival
- 18% Rent a cab
- Clarification on GST, TDS, and Accounting Provisions for Import/Export Commission Agents,profes. ser
- Movement of goods by packers and movers - type of sale - Reg.
- Clarification on GST, TDS, and Accounting Provisions for Import/Export
- Missed uploading GST Invoice
- Accounting Treatment of Civil work to install PORTA Cabin for office use
- RCM and same line
- Gratuity paid to legal heir above 20 lakh is taxable or not
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
- How to get money back from delisted company
- ITC not to be taken in accounts & GSTR-3B
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
