An employee who is working in an Indian company has been given an Health Insurance benefit by the Parent Company of other country.
Please clarify would there be any perquisite value applicable on this benefit at the hands of the employee.
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Applicability of perquisite on insurance benefit
Replies (1)
If the heath insurance premium is paid by the employer, then it is not taxed as a perquisite. Refer proviso to Section 17(2)(viii). But in your case, the health insurance benefit is given by parent company of the employer. In such a case the amount paid cannot be a perquisite at all, since perk can only be taxed if it is provided by employer to employee.
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