Dear All Seniors,
Greetings of the day!
Our organization wants to provide food coupons for free as well as petrol coupons to our employees. Hence, kindly let me know the PF and Income Tax applicability on food coupons and petrol slips (used for personal & official purposes). Also, I want to know the impact on salary slips for both. Please do the needful on an urgent basis.
From India, Pune
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17Greetings of the day!
Our organization wants to provide food coupons for free as well as petrol coupons to our employees. Hence, kindly let me know the PF and Income Tax applicability on food coupons and petrol slips (used for personal & official purposes). Also, I want to know the impact on salary slips for both. Please do the needful on an urgent basis.
From India, Pune
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Hi Sandeep,
If your company wants to provide food coupons and petrol coupons for free, then they will not be taxable up to a certain limit. PF will not be affected. Petrol used for office purposes will be considered as an expense reimbursement and not an allowance. The salary slip structure will remain the same.
Let other senior members also reply to this.
From India, Pune
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If your company wants to provide food coupons and petrol coupons for free, then they will not be taxable up to a certain limit. PF will not be affected. Petrol used for office purposes will be considered as an expense reimbursement and not an allowance. The salary slip structure will remain the same.
Let other senior members also reply to this.
From India, Pune
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Circular No 1-2018 Processing of income-tax returns under section 143(1) of the Income-tax Act .pdf
P-TAX.csv