Taxability of perquisites
This query is : Resolved
ramanpreet kaur bhatia
(Querist)
22 May 2009
The law is that if perquisites are provided by employer in monetary terms , it is taxable for all employees. But if is povided in the form of facility is taxable only for specified employee. What is the taxability if an employee children are studying in a school maintained by employer & the employee is not a specified employee?
M Prabhakar Menon
(Expert)
22 May 2009
Perquisites are to be valued as per the IT rule relevant to the perquisite If its in the form of money given along with the salary its an allowance and not a perquisite please get this clear.U/s 80C education expenses such as fees can be claimed as deduction.
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