SALARY PERQUISITE
New ITR Utility: Is landlord’s PAN card needed for claiming HRA while filing income tax return?
Rent HRA: The income tax department has released new excel and online utilities for ITR-1 and ITR-4. However, in the new excel utilities taxpayers who want to claim rent HRA tax exemption need to give some additional details like place of work, saalry, etc. Question is do you need to give PAN of the landlord? Answer is yes, but when? Read to know more.
Gautam Adani draws Rs 10.41 cr pay in FY25, lags behind peers
Gautam Adani, India’s second richest person, earned ₹10.41 crore in FY25, drawing salary from just two of his nine listed companies—Adani Enterprises and Adani Ports. His pay rose 12% from ₹9.26 crore in FY24 but remained lower than many industry peers and even some top executives within his group.
HUL MD Rohit Jawa gets 3.75% pay hike to Rs 23 crore in FY25
HUL Managing Director Rohit Jawa's remuneration increased by 3.75% to Rs 23.23 crore in FY25, 146.47 times the median employee remuneration. The company's annual report highlighted an 8.46% decrease in permanent employees, with 6,604 on the rolls. HUL divested its water business, Pureit, and decided to demerge its ice cream business amidst a challenging operating environment and evolving consumer landscape.
Did Zerodha’s Nithin Kamath gift 'BMWs, Audis, Mercedes' to top employees as bonuses?
A LinkedIn post claimed Nithin Kamath of Zerodha gifted luxury cars to employees. The post went viral, praising the move as strategic compensation. Kamath refuted the claim, dismissing the story as untrue. The incident highlights how quickly false information spreads online. Despite being false, the post sparked a discussion about innovative employee retention strategies in India.
New income tax slabs, zero tax on income up to Rs 12 lakh, 9 other income tax laws effective from April 1, 2025
New Financial Year 2025, new tax laws: Today marks the beginning of the new financial year 2025-26. With the new year, a lot of changes are effective. This includes new income tax slabs and other new tax laws, such as tweaks in ULIPs taxation, no higher TDS for non-ITR filers etc. Know the eleven tax changes are effective from today.
This tax-free perquisite value for salaried employee will see a positive change in New Tax Bill 2025
Tax free perquisite: Experts say due to a tweak in language of the new tax bill, 2025 now tax free perquisite may include employee commuting costs through reimbursements, or transportation through employer owned/operated vehicles, and many more. Shalini Jain, Tax Partner, EY India says, "This could potentially reduce administrative burdens and make it easier for both employers and employees to comply with tax regulations."
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Pay salary, benefits to consumer body members sans delay: SC to states
The Supreme Court has ordered all state governments to immediately pay the salaries and perquisites of chairpersons and members of state and district consumer redressal bodies as per existing rules. The court also directed the Centre to decide on amending the relevant model rules, warning that it may use its constitutional powers if no decision is made.
Big change in this tax free perquisite of a salaried employee in Budget 2025
Budget 2025: Now more employees are eligible for tax free perquisite for any expenditure incurred by the employer for travel outside India on the medical treatment of an employee or any member of the employee’s family. The current qualifying limit is Rs 2 lakh gross total income of employee. This value will be increased by the government soon.
Rent free house salary perk will be taxed differently from Sept 1: New CBDT rules
The new rules are notified by the Central Board of Direct Taxes (CBDT) on August 18, 2023 and became effective from September 1, 2023. The new rules provide for inflation adjusted rental value of house certain conditions. Read on to know about the new tax rules and how they will impact your TDS and salary.
Income tax department notifies rules for valuing rent-free accommodation provided by employers
The Indian Central Board of Direct Taxes (CBDT) has introduced revisions to income tax rules impacting individuals who receive rent-free accommodation from employers. CBDT’s amendments to Income Tax Rules, which will become effective on 1 September, will enable employees to save more and take home higher salaries. The changes imply that employees who receive unfurnished accommodation from outside the state or central governments will experience lower valuation of their homes. The result is expected to reduce their taxable base, leading to relief in the form of take-home pay.
Budget 2020 may tax employer's excess contribution to EPF, NPS twice
The budget proposal was made to restrict the tax-exempt contribution by employer to EPF, NPS and superannuation fund to Rs 7.5 lakh in an FY. However, this proposal is leading to double taxation of excess contribution in the hands of an employee.
Employers' total contribution towards employee social security funds capped at Rs 7.5 lakh annually
Consequently, the documents further said it is also proposed that any annual accretion by way of interest, dividend or any other amount of similar nature during the previous year to the balance at the credit of the fund or scheme may be treated as perquisite to the extent it relates to the employer's contribution which is included in the total income.
How to fill salary details in ITR1 for FY 2017-18
Not all of the amount received as salary is fully taxable. A part of it will be fully exempt from tax and a part of it will be partially exempt.
How to fill the new details required in ITR-1
Unlike last year, this year's form requires taxpayers to provide break-up of their salary income like taxable allowances and income from house property.
Interest-free loan from employer taxable: ITAT
The Income Tax Appellate Tribunal has said that valuation of taxable benefit or perquisite has to be computed as per prescribed formula under the I-T Act.
ICICI’s Chanda Kochhar, NS Kannan see 15% hike in FY17 salary
The sharp rise in Kochhar’s allowance and perquisites was because she chose to transfer the superannuation benefits and take it as a taxable allowance this year.
Sunil Mittal to take home over Rs 30 crore in annual pay package
This was approved at the company's 21st AGM held on August 19, 2016, sources said, adding that the package is applicable for the financial year.
Airtel proposes Rs 30 crore annual package to Sunil Mittal
In 2015-16, Mittal was paid salary and allowance of Rs 19.17 crore, variable pay of Rs 7.5 crore and perquisites amounting to Rs 11.78 crore.
Proxy advisory firm wants shareholders to reject Siemens' pay hike proposal
CEO Mathur was paid a remuneration of Rs 7.14 cr for FY14, while CFO Rummel was paid Rs 3.55 cr for a period between Feb 2014 and Dec 2014.
L&T chief A M Naik's annual salary to jump over 35% in new role
Naik, currently Chairman and Managing Director, will get a monthly salary of Rs 22 lakh, perquisites of Rs 25 lakh a year, commission of 0.3 per cent of annual operating net profit after tax, besides a host of other benefits in his new role.
Choose perks carefully to minimise tax impact
Indian and MNCs offer a variety of perks to retain talent. But one should opt for a perk based on its tax efficiency. Revised DTC: Changes affecting individuals
Perquisite valuation rules leave everyone in a tizzy
Perquisites are non-cash benefits and certain reimbursements received from the employer.
Tax on perks to be effective from April 2009
Salaried employees may burn a hole in their pockets with govt all set to impose tax on all perks. Tax deduction on HRA received by staff | Tax planning increases yields
Govt official may find tony homes taxing under draft tax code
Gurgaon and Noida may soon look lucrative for top government officials who are presently enjoying their shine and rain in Lutyen's Delhi.
Tax watch: Your effective take-home salary may increase
Your effective take-home salary could increase going forward if one were to go by the recent decision of the Special Bench of the Delhi Tribunal.
Bonanza for salaried
Your effective take-home salary could increase going forward if one were to go by the recent decision of the Special Bench of the Delhi Tribunal.
You can go tax-free at your employer's cost
Good news for salaried taxpayers, in case your employer picks up your tax liability, this perquisite of tax-free salary will not be taxed again. Globetrotters under tax net
Net-of-tax salary for expatriates in India
In a recent decision, the special bench of the Delhi Income-Tax Appellate Tribunal has ruled that tax paid by the employer on behalf of the employee is a “perquisite” and is not subject to multiple grossing up while computing the taxable income of the employee.
Job abroad? Be aware of taxes!
A recent decision by the IT Appellate Tribunal can impact those who receive net-of-tax salaries.
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