Is tds to be deducted from salary paid to employee for tution fees paid for MBA course to educational insitution ( Amt Rs3lacs ) in view of new perquisite valuation rules. Members views are solicited.
Thanks & regards.
CA Sanjay Baheti (PROPRIETOR) (1155 Points)
18 February 2010Is tds to be deducted from salary paid to employee for tution fees paid for MBA course to educational insitution ( Amt Rs3lacs ) in view of new perquisite valuation rules. Members views are solicited.
Thanks & regards.
Amir
(Learner)
(4016 Points)
Replied 18 February 2010
Dear Sanjay Sir,
I could get ur question exactly -
1) If u have reimbursed Tuition fees then it will be added as perks & accordingly TDS will be deducted
2) If loan has been given to employees that the difference of rate of Interest with the SBI Rate will form part of perks & again has to be considered for deduction of TDS..
Ameet
(L)
(1678 Points)
Replied 18 February 2010
It will be consider as perquisit and accd TDS will be deducted.
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