Income tax exemption meal coupons
Food coupons help you save income tax on purchases, increasing your in hand salary. Legally, Meal vouchers are Tax exempted to Rs 50 per meal during working hours. Buying grocery is allowed including payment by food card at restaurants, sweet Shops, bakeries, food outlets (Pizza hut, KFC, Subway) Big Bazaar retail.There are three ways to get income tax deduction on your home loan(s). The principal amount repaid in the current financial year is included under section 80C, offering a deduction up to Rs. 1, 50, 000. income tax exemption meal coupons
Mar 09, 2016 Taxability of sodexo food coupons. I had approached Sodexo Co. asking for exemption certificate from the incometax dept. issued to
Let's assume that if an employee consumes two meals a day using meal vouchers in a working day and works for 25 days in a month, then meal vouchers can be tax How do I save tax if I opt for Sodexo Food coupons? these food coupons or meal vouchers as a tax exempt an income tax rebate from Meal Cardincome tax exemption meal coupons However, if free meal (i. e. , food and nonalcoholic beverages) voucher such as Sodexo Pass, is provided by the employer during office hours at office or business premises, up to Rs. 50 per meal given to the employee is exempt from tax.
If you plan your Salary structure and use the right tax planning, you have to pay 0 income tax even on salary (CTC) of more than Rs 16 Lakhs. income tax exemption meal coupons 3. The tax exemption is to be calculated on a permeal basis and not on a permonth basis. If we assume that employees can consume 2 meals each day during working hours, Rs. 50 per meal tax exemption translates into Rs. 100 tax free food coupons per working day. 4. For a meal voucher to be tax exempt to the extent of Rs. 50 per meal, In India, Sodexo Meal Coupons are provided to employees primarily, to avail tax rebate. There is an upper limit for the amount which qualifies for tax rebate. In India its about INR 2000. For instance, if I opt for meal coupons of Rs. 2000 per month, the 2000 is not taxed. This perquisite is tax free only to the extent of Rs. 50 (max) per meal during the working hours. It is very important to understand that one has to consider the working hours of the organization to calculate the taxfree amount of this perquisite. Sodexo coupons are actually paid vouchers referred in the proviso.Rating: 4.20 / Views: 203