what are taxable perquisited ? explain any 7 taxable perquisities
Answers
Answer:
The rate at which perquisites are taxed is 30% of the value of fringe benefits. The perquisite tax is paid by the employer who furnishes these fringe benefits to employees.
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Answer:
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Explanation:
“Perquisite” may be defined as any casual emolument or benefit attached to an office or position in addition to salary or wages. “Perquisite” is defined in the section 17(2) of the Income tax Act as including: (i) Value of rent-free/concessional rent accommodation provided by the employer.
List of Perquisites and Benefits in Kind
Travelling allowance / petrol allowance.
Electricity bills / water bills paid by employer.
Entertainment allowance – deductions available.
Income tax paid by employer.
Children tuition / school fees paid by employer.
Allowance or reimbursement for childcare – RM 2400 exemption per year.
ESOS.