I have a question.
If the employee salary is 1.5 Lacs pm basic+hra+conveyence
Company has leased an accomodation for the employee @ 30000 pm.
This amount is deducted from the emplyee salary per month.
How will the the tax liability be calculated?
I have a question.
If the employee salary is 1.5 Lacs pm basic+hra+conveyence
Company has leased an accomodation for the employee @ 30000 pm.
This amount is deducted from the emplyee salary per month.
How will the the tax liability be calculated?
If i'm right .........The leased accomodation for the employee will not be taxable as salary in the hands of the employee if the rental amount of such accomodation is recovered from th employee.....
Refer Rule 17 of Income Tax Act for details....
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