Plz rpl very soon

538 views
User Avatar

accountant
46 Points Posted on 22 November 2011

i gonna attempt my CS Executive exam at Dec 2011

1-How much  the Free Meal allowance (office time) Exempted 50/- or more than it

2- If a person working in Transport co. How much he exemptet for  Transport 

A) 70% of Exp or 6000/-

B) 70% of Exp or 10000/-

 

Reply Share Follow Topic
On 22 November 2011 at 22:33 Report
Replies (5)
User Avatar

CHARTERED ACCOUNTANT
159 Points Posted on 22 November 2011
Dear soniya, there is no such meal allowance. Lunch/Tiffin allowance is fully taxable but if however, the employer provides free meal and/Or snacks to its employees then it will be regarded as 'PERK' and tax treatment will be as under:
Reply
On 22 November 2011 at 23:49
User Avatar

CHARTERED ACCOUNTANT
159 Points Posted on 22 November 2011
A) for snacks (if given in the office hours) value of perk is 'NIL' B) for meal or paid vouchers provided (if in the office hours/in the business premises) then value of perk will be 'total value of meal provided less an amount equal to Rs. 50 per meal
Reply
On 22 November 2011 at 23:57
User Avatar

CHARTERED ACCOUNTANT
159 Points Posted on 23 November 2011
less any amount recovered from the employee. but if the employee is provided such snacks or meal in the REMOTE AREA then it will be FULLY EXEMPT. and for transport any transport allowance/running allowance received by transport employees is exempt the
Reply
On 23 November 2011 at 00:05
User Avatar

CHARTERED ACCOUNTANT
159 Points Posted on 23 November 2011
lower of 70% of the allowance received or 10000p.m. but if such transport employee is in the receipt of daily allowance then transport allowance will be fully taxable. hope this will clear you happy to help! n best of luck
Reply
On 23 November 2011 at 00:21
User Avatar

accountant
46 Points Posted on 24 November 2011

thnx for reply nd give me valuable suggetion bt actually in my scanner there is a quesion in which the value of snacks is 50/- & meal 120/- bt both show exempted in the solution....

Reply
On 24 November 2011 at 03:04

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Recent Topics :

  1. GSTR1 amendment Bulk bills
  2. Capital Gain on Sale of Gold
  3. GST SALES RETURN MISSING 2025-26 FY
  4. Enquiry on FAST-DS system generated email
  5. Capital gain on sale of agriculture land
  6. Demand from TRACES
  7. FY 2025-26 ITC CLAIM DUE DATE
  8. 96084000 and 48202000 HSN code ka Tax Rate kya hai
  9. Clarifications for intra day transactions
  10. CA FINAL FR FINANCIAL INSTRUMENTS (Ind AS 109) Dou

More recent discussions | Post

Related Topics :

Loading

Latest Job Openings

View all
Company
08 October 2026
Account Executive

Elite Taxation

New Delhi

CA Foundation

View Details
Company
30 September 2026
Senior Accounts Executive

Codeboard Technology

Chennai

MBA

View Details
Company
13 October 2026
Accountant

Zerdi & Co. Chartered Accountants

Pune

B.Com

View Details
Company
06 October 2026
Assistant Manager - Audit and Compliance

Ravi K Jain & Co

Noida

Others

View Details
Company
ARTICLESHIP 15 September 2026
Freelance Taxation Content Writer Intern

Interactive Media Pvt Ltd.

New Delhi

CA Inter

View Details
Company
ARTICLESHIP 08 October 2026
ARTICLE TRAINEE

S.B.G. & CO. CHARTERED ACCOUNTANTS

New Delhi

CA Inter

View Details
Company
08 October 2026
SALES TELECALLER

HIRE NOVA

Lucknow

Graduate (Any)

View Details
Company
10 October 2026
Accounts Associate Level 1

Abic and Mani Chartered Accountants

Kottayam

B.Com

View Details