Hi everyone I have taken food card and pm 4000 deducted from my salary for it... I am in doubt that can I claim it in deductions or it is included in standard deduction of 50000. Plz suggest me appropriate step for it.
3 Replies
Maryam Hasan Meem
(Student)
(448 Points)
Replied 26 July 2020
Such food coupons are Taxable As Perquisite in the Hands Of The Employee.
However, such meal coupons are tax EXEMPT up to Rs 50 Per Meal.
A calculation based on 22 working days and 2 meals a day results in a monthly benefit of Rs 2,200 (22*100). Consequently,
the exemption works up to Rs 26,400(yearly).
However, such meal coupons are tax EXEMPT up to Rs 50 Per Meal.
A calculation based on 22 working days and 2 meals a day results in a monthly benefit of Rs 2,200 (22*100). Consequently,
the exemption works up to Rs 26,400(yearly).
saurabh
(student)
(43 Points)
Replied 26 July 2020
Ok so where to claim this deduction. In sec 10 in others exemptions column .Am I right.
Maryam Hasan Meem
(Student)
(448 Points)
Replied 26 July 2020
You will get partly exemption of perquisite under section 17(2).
Recent Topics
- Report Swiggy and Zomato Sale in GSTR1
- Form 10IE before due date and ITR filed after due
- BUC SALE
- Seeking Clarification on Tax Implications for Ex-G
- Tax for Advisor service
- HRA EXEMPTION FOR TWO DIFFERENT CITIES
- Bg claim period charges
- TDS deducted u/s 194N but showing as 194NF in 26AS
- Traces - Unable to register
- Partner required for 10 yr old firm on fix basis
Related Threads
Trending Online Classes
-
Certification Course on GSTR-3B Reconciliation with GSTR-2B through AI Tools
CA Deepak Gupta15 July 2025
CAclubindia
