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tax on perquisites

03 May 2018

There was a news that tax on perquisites of salaried class will be no longer from Fin .Yr. 2018-19 as per the Budget for 2018-19.

Pl. clarify.

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4 Replies

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (161021 Points)
Replied 03 May 2018

From Fin .Yr. 2018-19 there will be standard deduction of Rs. 40,000/-, specifically available to salaried class.....as per the Budget 2018.

Subbiah Mathurappan (139 Points)
Replied 03 May 2018

I refer to the news item of money control.com for clear clarification. Does this mean that perks meant in the news item refer to only transport allowance and medical expenses and others are taxable

CA PRADEEP C B (Prop: Pradeep C & Company Chartered Accountant Palakkad Kerala) (166 Points)
Replied 03 May 2018

Yes. Only transportation allowance and reimbursement of medical expenses were replaced by standard deduction of Rs. 40,000. other perks are taxable as usual.