If you have read the article above, all information has been already given and answers your question. Hi Anil according to the article the max.
So I want to know the figure that you have stated here is it correct if you take income tax act in consideration. The income tax law allows 3 meals. If your employer is only allowing 2 meals a day, then you can do the match yourself. Our Company provides subsidized food where employees pay Rs 25 and company pays the rest Rs 45 for a meal. For this purpose company printed paper food coupons Rs. My question is does the employee share qualify for tax deduction in their return?
Tax compliance on top for meal card issuing companies
It will be tax exempted only if it is recognized by government of India. Our company doe not provide the food coupons so, can i get the refund on this while filing the returns?
No, you cannot. This card will only allow you to make the amount it has been loaded with income tax free i. Rest, all other taxes have to paid at purchase time.
Thanks for the info. Therefore, the said vouchers which are printed on paper are the goods for the purposes of LBT and Octroi, which is payable on the entry of goods into the limits of the City for consumption, use or sale. After the vouchers are brought within the limits of the Municipal Corporations Act, the same are capable of being sold. The said vouchers which are capable of being sold, delivered and possessed have its own utility and are thus, goods.
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Meal vouchers are income tax exempt?
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