Dear All,
My company is providing Coupans to some empolyees of RS 15000 as the yearly reward for doing the best job for the company. These coupans can be used any where to purchase the item upto RS 15000.
My query is : who is liable to pay to tax on these coupons ....company or employee who receives the coupans as award ? or this is exempt for both.
Regards.
The coupons are allowabale expenses for the company and hence company can claim as business expenditure.
As far as employee is concerned it is not a taxable perquisite.
So the coupons are a win-win situation for both the company and employee.
Note: FBT was payable by company till A.Y. 2009-2010 on same coupons. But now its abolished.
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