Credit Card Given by Company to Employee - Taxability of Perquisites



Q 1 .

Basic salary = 20,000 p.m.

Company has given a credit Card to the Employee through which he incurred his personal expenses

Company paid a bill of  Rs.40000  and annual membership of   Rs.1,000

Also on Add-on Card has been issued  which is used by Employee wife (No membership fees for Add-on Card but  amount spent by Employees wife Rs.30,000 which is reimbursed by the company)

Calculate income from salary .





Suppose the company charges Rs.50000 from the Employee regarding  the credit Card

  1. Income Tax
  2. Income from Salaries

About the Author

CA Maninder Singh's photo - Expert in Practical Accounts, Taxation and Efiling
CA Maninder Singh
CA Maninder Singh is a Chartered Accountant for the past 11 years. He also provides Accounts Tax GST Training in Delhi and Pune.