LTC/LTA: Treatment of Leave Travel Concession or Assistance

Among the types of perquisites you have learned, Leave Travel Concession or Assistance(LTC/LTA) carries great importance. It is the perquisite given to employee on his leave travels. It also includes employee’s family members. What is the tax provision of LTC/LTAContinue reading… LTC/LTA: Treatment of Leave Travel Concession or Assistance

Medical perquisites to employees: What is its tax treatment?

Medical perquisites are considered as tax free perquisites as per Income Tax Act. However there are certain cases where medical facilities are treated as tax free perquisites. You must read till end! Medical facilities/reimbursement in India The value of anyContinue reading… Medical perquisites to employees: What is its tax treatment?