For Employee Point Of View : If Non Monetary Perquisites Amount Received (Amount Received) is Zero.

Food upto  50 Rupees per meal is exempt balance taxable

However  Snacks are completely exempt

Q3

   
Basic Salary 60000  pm
Free Food given at Company Canteen  

Company pays Caterer @ 60/meal

Employee  works for 25 days in Month

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PARTICULARS AMOUNT RECEIVED EXEMPT TAXABLE
Basic Salary 60000 0 60000
Food 0   250
Total 60000 0 60250

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CA Maninder Singh
CA Maninder Singh is a Chartered Accountant for the past 6 years. He provides courses for Practical Accounts, Taxation and Efiling at teachoo.com .
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