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I want your help to get how to show Sodexho meals voucher in salary break up and what is maximum getting as deduction from Income tax per year I heared 15000 is the maximum deductable amount give a currect answer
By Nisar
From India ,
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Hi,
Meal vouchers are included in the salary breakup to reduce the tax liability of the employees. It is exempted up to 15000/- per annum. The calculation is as follows Rs.50 per day for 25 working days in a month for 12 months.ie 50*25*12=15000/-. Any amount over and above 15000/- in an year will be charged to taxable salary of the employees. So if you are paying Rs.1500 per month as food coupon Rs.250/- will be chargeable to tax in each month.
Thanks and Regards
Leons Louis
919995289262
From India , Kottayam
Thanks Leons louis
I want know one more thing,Sodexho meals voucher can show as excluded salary break up like company directly giving to employee,In this case we can give to employee per month and it will come under FBT
I want know one more thing,Sodexho meals voucher can show as excluded salary break up like company directly giving to employee,In this case how much amount's Sodexho meals pass we can give to employee per month and it will come under FBT
From India ,
I want know one more thing,Sodexho meals voucher can show as excluded salary break up like company directly giving to employee,In this case how much amount's Sodexho meals pass we can give to employee per month and it will come under FBT
From India ,
Please check this site for clear tax benefits info:
Law on Fringe Benefit Tax: Meal Voucher
Magesh
From United States , Santa Clara
Dear Friends,
Meal Card is not coming under FBT. There is no limit now, limit of Rs. 50/- per days was there till F.Year 2006. We have included this as Part of CTC & Meal Card Limit varies as per grades Rs. 1950 to 3900 per month. There should be a justification to the amount [Break fast, snacks, lunch & tea etc...]. The trend is now that companies are going for Meal Card instead of voucher as it is easy to handle, upload & can be utilised any Food & Beverages outlest where credit cards are accepted.
Regards
Venugopal
Reliance Capital Ltd.
Mumbai.
From India , Mumbai
[quote=venu2799;4242]Dear Friends,
Meal Card is not coming under FBT. There is no limit now, limit of Rs. 50/- per days was there till F.Year 2006. We have included this as Part of CTC & Meal Card Limit varies as per grades Rs. 1950 to 3900 per month. There should be a justification to the amount [Break fast, snacks, lunch & tea etc...]. The trend is now that companies are going for Meal Card instead of voucher as it is easy to handle, upload & can be utilised any Food & Beverages outlest where credit cards are accepted.
Regards
Venugopal
From India , Mumbai
Limit is Rs. 30000 per annum, which makes 2500 per month as per the revised slab effective from FY 2015-2016
From India, Mumbai
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