Taxable Perquisites for Salaried Employee

Taxable Perquisites for Salaried Employee

Related taxable perquisites

1.) Taxable Perquisites for Salaried Employee Education Expenses – Value of perquisite up to 1,000 pm
2.) Interest-free loans – difference between SBI lending rate and ACTUAL RATE
3.) PREMIUM – RPF
Employer contribution more than 12%
Employee contribution more than 12%
Interest on EPF more than 9.5%
URPF – All contribution related to PF, Interest
4.) Movable Assets
For Computers 50% dep WDV
For Car 20% WDV
For Others 10% SLM
5.) Food
a. Food costs more than 50rs in-office time
b. Food provided other than office hours
6.) Car perquisite
a. Car owned by employee
a. Expenses incurred by employee – Not a perquisite
b. Expenses incurred by employer –
i. business purpose – No perquisite
ii. private purpose – Expenses incurred less expenses recovered
iii. both – 2400/1800 pm less 900 for chauffeur less amount recovered
b. Car owned by employer
a. Expenses incurred by employee
i. Office purpose – No perquisite
ii. Private purpose – 10% of AC – amount rec
iii. Both- 600/900pm + 900 pm for chauffeur
b. Expenses incurred by employer
i. Office purpose – No perquisite
ii. Private purpose – 10% of AC – amount rec
iii. Both – 1800/2400pm + 900 pm for chauffeur
7.) Gift – More than the value of 50,000
8.) Rent-free accommodation
a. Furnished – (Value of UFRFA + value of furniture(if own 10% of AC or else hire charges – amount rec))
b. Unfurnished R F A
i. Government – License fee determined Less Amount rec

ii. Other than government –Taxable Perquisites for Salaried Employee
1. Employer own – 15%/10%/7.5% of salary Less amount rec
2. Hired – Hire charges or 15% of salary less amount rec
3. Hotel – Hire charges or 24% of salary less amount rec
9.) Medical Expenses – Expenditure incurred for medical treatment of the employee or his/her relative more than 15,000.

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