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Employee tax borne by employer
Ram is employee of js sundhram&co.,he went to Ghana company which is situated in America.,for such services that company charged tax as per their act. and our firm promises to pay whatever tax paid by him in forien should reimbursed to him.can any body say the how to calculate such reimbursed amount .,please say the basis for calculation.
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Ram is employee and the tax is paid for services provided by company, Ram paid the amount on behalf of the company!!
No.,that is not .,please provide clarity for this issue
Why your company is involved for reimbursement?
e.g. the tax paid in foreign is 100 and you're reimbursing this amount in India. Then this amount is Indian income and taxable here. Say, the tax rate is 20% here. Then you need to reimburse him 125, so that the net income after tax is 100. I think this is the type of facility you're want to provide.
whether it is 120 or 125
125. You'll pay 20% on this. 20% of 125=25. Balance left 100.
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