Exemption of Books and Periodicals

Hi,

What is the maximum amount of books and periodicals reimbursement exempted under income tax for an employee who is working at very senior level for a management institute.

Thanks.

Replies (6)

Dear Satish

As per income tax , there has no section & no limit defined for books & periodicals reimbursement. You can take any no of books for any much of amount as company is giving reimbusement to you & company booked expenses in company account............

There is no limit on exp on books and periodicals but certainly you can claim any amount if books are of business use.

So to dedcide limit one has to lookinto final use. 

If Sorah has to believe then  it may come under FBT also.

good answers

Yes There is no limit on expenses on books & perodicals, u just need to proov that these are requried for business. thats all. if not for business use than this will attract FBT because

Any reimbursement of expenditure on books and periodicals to employees is in the nature of expenditure for the purposes of employee welfare and, accordingly, falls within the scope of clause (E) of sub-section (2) of section 115WB. Hence, such reimbursement is liable to FBT

Thanks

Praveen

I want to know about exemptions of Books & periodicals

Originally posted by : PRAVEEN KUMAR
Yes There is no limit on expenses on books & perodicals, u just need to proov that these are requried for business. thats all. if not for business use than this will attract FBT because
Any reimbursement of expenditure on books and periodicals to employees is in the nature of expenditure for the purposes of employee welfare and, accordingly, falls within the scope of clause (E) of sub-section (2) of section 115WB. Hence, such reimbursement is liable to FBT
Thanks
Praveen

AGREED.

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