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Valuation of lunch and refreshments...
valuation of perquisites in respect of lunch or refreshments...
amount exempt is upto rs. 50 per meal...if employer provides two meals in a day 50 rs. each
what will be taxable value.
Replies (5)
Rs.50/- will b taxable....
Sir,
Meals provided in office premises (or) voucher provided by the employer value exceeds Rs.50/- then it is taxable.
Here the taxable value amounts to
=(100-50)*365 (assuming 365 days)
=36,500-18,250
=18,250/-
it means the condition is applicable for a day not for a meal...or the interpretation is 50 rs in aggregrate for the whole day..plz clarify
sir,
For meal if the value exceeds 50 is taxable
it should be calculated per meal it is exempt upto rs 50, whether a single meal or 10 meal is provided in a day
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