An employer provided free refreshment to his employee for which he incurred an amount of ₹80 per such refreshment. State the amount which is treated as a perquisite for the employee and its taxable value as per sec 15BAC
CS Executive · Tax Laws · PYQS · June 2022
An employer provided free refreshment to his employee for which he incurred an amount of ₹80 per such refreshment. State the amount which is treated as a perquisite for the employee and its taxable value as per sec 15BAC of the Income Tax Act, 1961 for the Assessment Year 2022-2023:
Answer & Explanation:
Correct Answer: Option (C)
Official answer key: (C). Official source note: An employer provided free refreshment to his employee for which he incurred an amount of ₹ 80 per such refreshment. State the amount which is treated as a perquisite for the employee and its taxable value as per sec 15BAC of the Income Tax Act, 1961 for the Assessment Year 2022-2023: (A) ₹ 50 (B) Exempt (C) ₹ 80 (D) Nil
Topics: Income Tax Act, 1961
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