Comments on: Salary Income -Valuation of Perquisites http://taxguru.in/income-tax/valuation-of-perquisites-under-the-income-tax-act-and-rules-for-the-salaried-employees-for-a-y-2010-2011.html Complete Tax Solution Sat, 26 May 2012 20:31:08 +0000 hourly 1 http://wordpress.org/?v=3.3.2 By: Vasudeva Rao http://taxguru.in/income-tax/valuation-of-perquisites-under-the-income-tax-act-and-rules-for-the-salaried-employees-for-a-y-2010-2011.html#comment-457558 Vasudeva Rao Wed, 02 Nov 2011 11:38:26 +0000 http://www.taxguru.in/income-tax/valuation-of-perquisites-under-the-income-tax-act-and-rules-for-the-salaried-employees-for-a-y-2010-2011.html#comment-457558 Transfer of movable asset to the employee direct or indirectly : If the Motor Car is sold to employee at "market value", where no benefit is passed-on to employee in such case, is the ITWDV value as specified and Market value traeted as "notional benefit" and treated as perquisite and Tax is payable by employee?? if so landed cost for employee will be higher than sale to an outsider? Any comments? Transfer of movable asset to the employee
direct or indirectly : If the Motor Car is sold to employee at “market value”, where no benefit is passed-on to employee in such case, is the ITWDV value as specified and Market value traeted as “notional benefit” and treated as perquisite and Tax is payable by employee?? if so landed cost for employee will be higher than sale to an outsider? Any comments?

]]> By: rohit jain http://taxguru.in/income-tax/valuation-of-perquisites-under-the-income-tax-act-and-rules-for-the-salaried-employees-for-a-y-2010-2011.html#comment-400534 rohit jain Sat, 23 Apr 2011 06:48:16 +0000 http://www.taxguru.in/income-tax/valuation-of-perquisites-under-the-income-tax-act-and-rules-for-the-salaried-employees-for-a-y-2010-2011.html#comment-400534 WHETHER TELEPHONE BILLS REIMBURSED BY THE EMPLOYER WILL BE A TAXABLE PERQUISITE OR NOT????I F YES THEN WHY???? PLZ CLARIFY.... WHETHER TELEPHONE BILLS REIMBURSED BY THE EMPLOYER WILL BE A TAXABLE PERQUISITE OR NOT????I F YES THEN WHY???? PLZ CLARIFY….

]]> By: Bheemagouda http://taxguru.in/income-tax/valuation-of-perquisites-under-the-income-tax-act-and-rules-for-the-salaried-employees-for-a-y-2010-2011.html#comment-154688 Bheemagouda Sat, 09 Oct 2010 14:41:55 +0000 http://www.taxguru.in/income-tax/valuation-of-perquisites-under-the-income-tax-act-and-rules-for-the-salaried-employees-for-a-y-2010-2011.html#comment-154688 hi, The article on - Valuation of Perquisites under the Income Tax Act and Rules for the salaried employees for A.Y. 2010-2011, was helpful. It would be more helpful if u can you provide the list of perquisites(especially i.r.o car)that are taxable only in the hands of 'SPECIFIED EMPLOYEES' hoping to get response... thanking you, Bheemagouda. hi,
The article on – Valuation of Perquisites under the Income Tax Act and Rules for the salaried employees for A.Y. 2010-2011, was helpful.
It would be more helpful if u can you provide the list of perquisites(especially i.r.o car)that are taxable only in the hands of ‘SPECIFIED EMPLOYEES’
hoping to get response…

thanking you,
Bheemagouda.

]]> By: shubh k jain http://taxguru.in/income-tax/valuation-of-perquisites-under-the-income-tax-act-and-rules-for-the-salaried-employees-for-a-y-2010-2011.html#comment-32955 shubh k jain Wed, 07 Apr 2010 08:58:00 +0000 http://www.taxguru.in/income-tax/valuation-of-perquisites-under-the-income-tax-act-and-rules-for-the-salaried-employees-for-a-y-2010-2011.html#comment-32955 I have gone thru your article on taxable value of perquisites. I require some clarification in this case. I would be thank ful to you if can elaborae on the same. Issue is some free accomodation is provided to its employees by a company at site. This accomodation has been arranged under contract agreement with customer (State Govt) who is charging nominal rent(licence fees) for the same. Now the issue is whether as per latest circular issued bo CBTD (circular no 1/2010)(F.No. 275/192/2009 IT(B) dt 11/01/2010 perquisite has to be charged at the rate of 7.5 % of the salary or it has to be restricted to nominal rent taken by the customer as it is much below the fair rent. I will be highly obliged if you can elaborate the issue . SHUBH K JAIN BW- 117 A SHALIMAR BAGH DELHI I have gone thru your article on taxable value of perquisites. I require some clarification in this case. I would be thank ful to you if can elaborae on the same.

Issue is some free accomodation is provided to its employees by a company at site. This accomodation has been arranged under contract agreement with customer (State Govt) who is charging nominal rent(licence fees) for the same. Now the issue is whether as per latest circular issued bo CBTD (circular no 1/2010)(F.No. 275/192/2009 IT(B) dt 11/01/2010 perquisite has to be charged at the rate of 7.5 % of the salary or it has to be restricted to nominal rent taken by the customer as it is much below the fair rent.

I will be highly obliged if you can elaborate the issue .

SHUBH K JAIN
BW- 117 A SHALIMAR BAGH
DELHI

]]> By: Sundar http://taxguru.in/income-tax/valuation-of-perquisites-under-the-income-tax-act-and-rules-for-the-salaried-employees-for-a-y-2010-2011.html#comment-9275 Sundar Fri, 25 Dec 2009 08:24:06 +0000 http://www.taxguru.in/income-tax/valuation-of-perquisites-under-the-income-tax-act-and-rules-for-the-salaried-employees-for-a-y-2010-2011.html#comment-9275 How do we treat the lease rent for motor cars paid by the employer, which is considered as part of the Annual Salary of the employee? Can we consider them as part of Running & Maintenance Expenses or we should treat them as part of taxable benefits in the hands of employe? How do we treat the lease rent for motor cars paid by the employer, which is considered as part of the Annual Salary of the employee? Can we consider them as part of Running & Maintenance Expenses or we should treat them as part of taxable benefits in the hands of employe?

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