Tds on rent

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

21 January 2012 DEAR ALL

A EMPLOYEE GETTING SALARY RS. ONE LAC PER MONTH, COMPANY ALSO PAYING HIS RENT RS.50000/- ON BEHALF OF EMPLOYEE,AFTER DEDUCTION THE TDS ON RENT, WHAT WILL BE THE TAX CRITERIA OF THAT EMPLOYEE.......

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CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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21 January 2012 THE PERQUISITE WHERE THE COMPANY PROVIDES ACCOMMODATION IS CALLED PERQ. FOR RENT FREE HOUSE. ACCORDING TO THE POLPULATION OF THE PLACE, 15, 10 OR 7.5% OF RS 100000/- SALARY WILL BE ADDED. SUPPOSE THE HOUSE IS IN METRO
CITY OR HAVING POPULATION OF MORE THAN 25 LAC, 15% I.E RS. 15000/-P.M. WILL BE ADDED TO HIS SALARY.
.
RENT PAID BY THE COMPANY WILL BE CLAIMED BY THE COMPANY AS AN EXPENSE.

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