Dear Sir,
Please Clarify:
Our Company has paid the Fixed Reimbursement Every Month to our
Employees Like as Driver Salary Per Month Paid through Voucher Near about
8000/- & Conveyance Reimbursement Near about 12000/- Per Month
through Voucher . My Query is that Whether is an Taxable in the Hand
of Employees or Not?
Please reply urgently.
Thanks
Parmod Agarwal
IT IS TAXABLE IN THE HANDS OF EMPLOYEES. YOUR CO'S EXPENSE IS THE INCOME OF THE EMPLOYEES IN FORM OF REIMBURSEMENT.
any payment made by company in the form of monthly reimbursement will form part of salary of the employee and hence provsion of tax deduction will also apply accordingly.
regards,
ratan
It is taxable perquisits in the hands of Employees from 01.04.2009
The question is about fixed Re-imbursement every month through voucher. Conveyence expenses which are reimbursed through voucher are variable and not fixed.
Fix Reimbursment of expenses is taxable in the hands of employee.
CAclubindia
