INTERVIEW QUESTIONS TAX PERQUISITE TAX DETAILS

Question: What are all the Perquisites which are Exempted in all cases?

Answer: 1) Leave Travel Concession subject to conditions & actual spent only for travels.

2) Computer/ Laptop provided for official / personal use.

Allotment Calculator Tax Ration Professional Tax Provident Fund Computation Supplys



All Cases Annuals Car Allotment Calculator Tax Ration Professional Tax

Initial Fees paid for corporate membership of a club.

Refreshment provided by the Employer during working hours in
office premises.

Payment of annual premium on Personal Accident Policy.

Subscription to periodicals and journal required for discharge of work.

Provision of Medical Facilities.

Gift not exceeding Rs. 5,000 p.a.

Use of Health Club, Sports facility.

Free telephones whether fixed or mobile phones.

Interest Free / concessional loan of an amount not exceeding Rs. 20,000 (limit not application in the case of medical treatment)

Contribution to recognized Provident Fund / approved super annuation fund, pension or deferred annuity scheme & staff group insurance scheme.

Free meal provided during working hours or through paid non transferable vouchers not exceeding Rs. 50 per meal or free meal provided during working hours in a remote area.

The value of any benefit provided free or at a concessional rate (including goods sold at concessional rate) by a company to the Employees by way of allotment of shares etc., under the Employees stock option plan as per Central Government Guidelines.

Free Medical Facilities as given u/s 17(2)

Free recreational facilities.

Free education , training or refresher course for employees.

Free ration received by member of armed force.

Perquisites allowed by Govt. by its employees posted abroad.

Rent free house given to office of Parliament, a Union Minister, and leader of Opposition in Parliament.

Free Residence and Conveyance facilities to Judges of Supreme Court and High Court.

Free Conveyance provided by employer to employee for going to or coming from palace of employment.

Employers contribution to staff group insurance scheme.

Tax on Perks paid by employer.

1) Leave Travel Concession subject to conditions & actual spent only for travels.

2) Computer/ Laptop provided for official / personal use.

Allotment Calculator Tax Ration Professional Tax Provident Fund Computation Supplys



All Cases Annuals Car Allotment Calculator Tax Ration Professional Tax

Initial Fees paid for corporate membership of a club.

Refreshment provided by the Employer during working hours in
office premises.

Payment of annual premium on Personal Accident Policy.

Subscription to periodicals and journal required for discharge of work.

Provision of Medical Facilities.

Gift not exceeding Rs. 5,000 p.a.

Use of Health Club, Sports facility.

Free telephones whether fixed or mobile phones.

Interest Free / concessional loan of an amount not exceeding Rs. 20,000 (limit not application in the case of medical treatment)

Contribution to recognized Provident Fund / approved super annuation fund, pension or deferred annuity scheme & staff group insurance scheme.

Free meal provided during working hours or through paid non transferable vouchers not exceeding Rs. 50 per meal or free meal provided during working hours in a remote area.

The value of any benefit provided free or at a concessional rate (including goods sold at concessional rate) by a company to the Employees by way of allotment of shares etc., under the Employees stock option plan as per Central Government Guidelines.

Free Medical Facilities as given u/s 17(2)

Free recreational facilities.

Free education , training or refresher course for employees.

Free ration received by member of armed force.

Perquisites allowed by Govt. by its employees posted abroad.

Rent free house given to office of Parliament, a Union Minister, and leader of Opposition in Parliament.

Free Residence and Conveyance facilities to Judges of Supreme Court and High Court.

Free Conveyance provided by employer to employee for going to or coming from palace of employment.

Employers contribution to staff group insurance scheme.

Tax on Perks paid by employer. Source: CoolInterview.com

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