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How to Furnish Requisite Field PDF For Free

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Today, Kevin demonstrates how to create a fillable PDF form for free. Instead of paying for expensive software like docHub, he recommends using LibreOffice, a free and open-source application similar to Microsoft Office. Simply go to the website provided, download the software, and start creating your fillable forms with ease.

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What is perquisites when taxable?

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/accommodation provided by the employer.

What is the value of perquisites as 17 2?

Perquisite is defined in the section 17(2) of the Income tax Act as including: (i) Value of rent-free/accommodation provided by the employer. (ii) Value of any concession in the matter of rent respecting any accommodation provided to the assessee by his employer.

Which of the following is taxable perquisites?

The taxable category of perquisites includes supply of water, electricity and gas, rent-free accommodation, professional tax, the salary of domestic help hired by the employee, medical expense reimbursements, etc. Further, other fringe benefits like free meals, club and gym facilities and gifts worth more than Rs.

What are tax free perquisites in India?

Any recreational facility provided to a group of employees by the employer is not taxable. Thus, health club, sports and similar facilities provided uniformly to all employees by the employer is a tax-free perquisite.

How do you calculate gross salary?

Gross salary is calculated by adding an employees basic salary and allowances prior to making deductions, including taxes. Here, a basic salary is the base income of an employee or the fixed part of ones compensation package. Provident Fund is not taken into account while deriving the gross salary.

What is standard deduction in income tax?

Standard deduction means a flat deduction to individuals earning salary or pension income. It was introduced in the Budget 2018 in lieu of exemption of transport allowance and reimbursement of miscellaneous medical expenses. For FY 2021-22, the limit of the standard deduction is Rs 50,000.

What are tax-free perquisites in India?

Any recreational facility provided to a group of employees by the employer is not taxable. Thus, health club, sports and similar facilities provided uniformly to all employees by the employer is a tax-free perquisite.

What is Section 17 3?

- The premium paid by an ex- employer to purchase an annuity payable to an ex- employee is taxable only under section 17 (3) (ii). The payment will not be admissible as revenue expenditure in the hands of the employer.

What is the meaning of the word perquisites?

Definition. A fixed amount paid to the employee to meet certain special expenses. Benefits are provided to the employee due to their professional service.

Are perquisites exempt from income tax?

Perquisites provided by an employer to an employee are taxable under the head of income known as Income from Salaries. However, some types of perquisites are tax-free in the hands of the employee.

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Discover the quickest way to Furnish Requisite Field PDF For Free

Discover how to Furnish Requisite Field PDF For Free in a few simple steps

Here's how you can effortlessly Furnish Requisite Field PDF For Free with DocHub:

PDF editing simplified with DocHub

Drive efficiency with the DocHub add-on for Google Workspace

How to Furnish Requisite Field PDF For Free