Dear All,
Let's consider that ABC has a salary of Rs. 65,000 per month. We include Rs. 2500 as Food Coupons in his CTC in his appointment letter. However, the tax exemption limit is Rs. 1350.
Should I issue the food coupons for the month of Rs. 2500 or Rs. 1350? Please advise me on this matter!
Thank you.
From India, Madras
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8Let's consider that ABC has a salary of Rs. 65,000 per month. We include Rs. 2500 as Food Coupons in his CTC in his appointment letter. However, the tax exemption limit is Rs. 1350.
Should I issue the food coupons for the month of Rs. 2500 or Rs. 1350? Please advise me on this matter!
Thank you.
From India, Madras
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Dear Ganesh,
Our company is newly started, and the hiring process is ongoing. We are planning to issue food coupons to our staff. I don't have any idea about how to issue food coupons via software or any other means. I just want clarity on the process as I mentioned above.
Thank you.
From India, Madras
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Our company is newly started, and the hiring process is ongoing. We are planning to issue food coupons to our staff. I don't have any idea about how to issue food coupons via software or any other means. I just want clarity on the process as I mentioned above.
Thank you.
From India, Madras
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It is better, if you issue food Coupons, worth RS 1350 ONLY. So that the employee gets Tax benefit. And also you should not show more than Rs 1350, in his CTC break up.
From India
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From India
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I think the limit Rs.1350/- is increased to 2700/- in FY11-12. My company is providing food coupons on 2 denominations 1350 & 2700 and they don’t deduct tax on that. Pon
From India, Lucknow
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From India, Lucknow
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Dear Pon,
Thank you for your information. I already received the information from Sodexo. Find the below information; I hope this is useful to someone!
As per the Income Tax Rule (13th amendment) dated 18-12-2009, the law clearly states that the employer can offer up to Rs. 50 per meal in the form of vouchers which are totally non-taxable. On any working day, an employee can be offered two meals, which amounts to Rs. 2200 per month (for a 5-day week organization) and Rs. 2600 per month (for a 6-day week organization). The annual tax exemption is up to Rs. 31,200.
Tax exempt up to Rs. 2200 per month (5-day week organizations) and up to Rs. 2600 per month (6-day week organizations).
From India, Madras
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Thank you for your information. I already received the information from Sodexo. Find the below information; I hope this is useful to someone!
As per the Income Tax Rule (13th amendment) dated 18-12-2009, the law clearly states that the employer can offer up to Rs. 50 per meal in the form of vouchers which are totally non-taxable. On any working day, an employee can be offered two meals, which amounts to Rs. 2200 per month (for a 5-day week organization) and Rs. 2600 per month (for a 6-day week organization). The annual tax exemption is up to Rs. 31,200.
Tax exempt up to Rs. 2200 per month (5-day week organizations) and up to Rs. 2600 per month (6-day week organizations).
From India, Madras
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CTC Breakup.xls
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