Naveen is employed in a company. He wants to know which of the following perquisite is a tax-free perquisite: (i) Subsidized lunch; (ii) Personal accident insurance (iii) Interest-free loan from employer ₹18,000 (iv) Rei

CS Executive · Tax Laws · PYQS · June 2023
Naveen is employed in a company. He wants to know which of the following perquisite is a tax-free perquisite: (i) Subsidized lunch; (ii) Personal accident insurance (iii) Interest-free loan from employer ₹18,000 (iv) Reimbursement of medical expenditure ₹25,000
(A) (i) and (iv)
(B) (i) and (iii)
(C) (i), (ii) and (iii)
(D) (i), (ii), (iii) and (iv)

Answer & Explanation:

Correct Answer: Option (C)

Official answer key: (C), (D). Official source note: Correct Option is C. Further option D may also be considered as correct if reimbursement of medical expenditure at specified hospitals e.g. government hospitals.

Topics: Income Tax Act, 1961

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