Taxability of Perquisites

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

16 August 2010 Hi,

Can you please let me know taxability of perquisites in following cases.

On employee is getting fixed car allowance of 8000/- per month

One employee is getting Car reimbursement of 8000/- per month.

One employee is getting computer assistance (For buying computer or laptop) of 40000/- one time from company of which 2000/- per month gets deducted from his salary for 12 month and balance is not be paid if he remains in company for 12 months or else all the amount is recovered. Now in this case should the balance 16000/- be added to perquisites if yes in which month?

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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16 August 2010 Fixed car allowance is full taxable

Car rimbursement is exempted Rs.1200 for car having 1.6 ltrs capacity and Rs.1600 for car having more than 1.6 ltrs capacity
plus Rs.600 for the driver salary

Rs.16000 is the taxable perqusites in the month of purchase of computer

Querist : Anonymous

Querist : Anonymous (Querist)

18 August 2010 For query 3 if he resign within 12 months than in which case he has to refund the amount to company.so if we tax 16000 in month of purchase would not be correct.right?

Querist : Anonymous

Querist : Anonymous (Querist)

19 August 2010 a

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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22 August 2010 yes. if he is refund the amount by resigning , there is no tax

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