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bank employee govt or private

reena jain (CA ) (247 Points)

01 July 2010

hi friends

kindly clear my doubt

1. whether state bank of bikaner and jaipur employees are govt or private or any other employees.?

2. If Tax is deposited by employer bank on perquisite then that tax can be treated as tds to avail refund.?

thanks

reena jain

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9 Replies

Dhawal Mohnot (Practicing) (449 Points)
Replied 01 July 2010

It is a public sector bank and hence the employees would be a govt employee.

Ur 2nd question is not clear though.

V.Ganapathy Subramanian (Dy Manager Accounts) (62 Points)
Replied 01 July 2010

Other than the nationalised and Schduled bank all others are not Govt Banks

Dhawal Mohnot (Practicing) (449 Points)
Replied 01 July 2010

State bank is a nationalised bank .... and state bank of bikaner is a 100% subsidiary of State bank of India

Amir (Learner) (4016 Points)
Replied 01 July 2010

Happy CA Day to ALL.......!

Dear Mam,

I think you are seeking this info for the purpose of filing of ITR, where assesee has to tick on 1out of the 3 check boxes as under -

1) Govt. Employee

2) PSU (Public Sector Undertaking)

3) Others

State Bank of Bikaner & Jaipur is a subsidiary company of State Bank of India, which is a PSU. Therefore, its employees are also required to check the box next to PSU i:e PSU employees.

But, If you are asking it for the purpose of computing salary then PSU employees are treated as Non-Government & no distinction is made between Private employees & PSU employees.

Regarding second question, tax paid by employer on perquisites on behalf of employees -

Yes, tax paid by employer on "Non - monetary perks" will be deducted as usual in order to compute refund but if refund is due to excess tax paid by employer on "non-monetary perks" then such excess shall become a taxable perquisite u/s 17(2) since Sec 10(10CC) exempts in the hands of employee the tax paid by employer on "non-monetary perks" only hence anything in excess of it shall form part of income under head salary....

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