OTHER PERQUISITE:-
1. Life Insurance premium paid is taxable to the extent paid by employer
2. ESOP = Market value on the date when Employee exercises his option (-) Amount recovered
3. Lunch Facility [Fully taxable for sec.115BAC]
(a) Tea/coffee and snacks provided is exempt
(b) Lunch provided is exempt upto ₹50 per meal Per day
4. Gift Monetary gift = Fully taxable
Non- Monetary gift in excess of ₹ 5000 p.a. (Alternatively upto ₹5000 p.a. is fully exempt,
otherwise fully taxable).
5. The amount or aggregate of amounts of any contribution made
– in a recognised provident fund
– in NPS referred to in section 80CCD(1)
– in an approved superannuation fund
by the employer to the account of the assessee, to the extent it > ₹ 7,50,000 [Sect 17(2)(vii)].
6. Annual accretion to the balance at the credit of the recognised provident fund/NPS/
approved superannuation fund which relates to the employer’s contribution and included
in total income (on account of the same having exceeded ₹7,50,000)
Interest, dividend or any other amount of similar nature on the amount which is included
in total income under section 17(2)(vii) would also be treated as a perquisite.
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