Hi
Our company provides sodexo vouchers to the employees. this is not treated as a component of salary but advace deduction is made from the employee's salary and the payment is made to Sodexo.
Please let me know if this will be exempted from tax or do we need to include this as a component of the salary for availing the tax benefit.
Regards
Bobby.
From India, Bangalore
1Our company provides sodexo vouchers to the employees. this is not treated as a component of salary but advace deduction is made from the employee's salary and the payment is made to Sodexo.
Please let me know if this will be exempted from tax or do we need to include this as a component of the salary for availing the tax benefit.
Regards
Bobby.
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From India, Bangalore
Since you are recovery entire amount of Sodexo coupons, according to there will not be any tax liability. Only one point, instead of treating Salary Advance you name it as Food Recovery or Meal Coupon recovery
In other cases only Rs. 50/- per meal are allowed as non taxable and rest amount is treated as taxable.
From India, Mumbai
In other cases only Rs. 50/- per meal are allowed as non taxable and rest amount is treated as taxable.
From India, Mumbai
thnx for the quick reply..am sorry that i didnt understand that message properly.. what difference does it make in renaming it as Food recovery of meal coupon recovery??
Also i believe that the max limit is 100 per day. right?
infact the maximum value of the voucher that we provide at our company is Rs. 2200(Rs.100*22 Days)
Please correct me if i am wrong.
regards
Bobby.
From India, Bangalore
Also i believe that the max limit is 100 per day. right?
infact the maximum value of the voucher that we provide at our company is Rs. 2200(Rs.100*22 Days)
Please correct me if i am wrong.
regards
Bobby.
From India, Bangalore
Reason for showing Food recovery or meal coupon recovery is that it will be easy to convince IT officer that you are recovering the amount and hence no perk is chargeable
As per the notification released on 18/12/2009, meal vouchers are exempted at Rs. 50/- per meal.
From India, Mumbai
As per the notification released on 18/12/2009, meal vouchers are exempted at Rs. 50/- per meal.
From India, Mumbai
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