If a recovery is made from the employee, it is deducted from the perquisite
value," says Kumar.
The painting's date helps to explain why the visitors suddenly began to refer to the Duke's perquisite
(the other crimson damask bed) as being in the State Bedchamber.
The Court has taken this view and rejected the stand of the tax department that the tax paid on behalf of employees should be included in the figure of salary for computing the perquisite
value of residential accommodation.
Areas for special attention include: cash-based versus equity-based incentives, performance-based versus employment-based vesting provisions, maintenance versus restructure of perquisites
and severance and change-in-control benefits and plan provisions.
ALL high- profile employees who enjoy big perquisites
as part of their salary packages will have to start shelling out more for income- tax ( I- T) now as the Central Board of Direct Taxes ( CBDT) has issued the notification for taxing perks with retrospective effect for the current financial year.
Apart from my salary and perquisites
, they will pay for the corporate membership of a golf club, which I will be able to use.
The eliminated perquisites
include, but are not limited to, country club memberships, automobile allowances and tax "gross-up" payments made to reimburse an executive officer for individual income tax incurred with respect to a perquisite
1 percent of Fortune 100 companies disclosed that they will eliminate some executive perquisites
in 2006 or by the start of 2007;
Hence, you will have to pay tax at the rate of thirty per cent on taxable income over Rs1 million on the aggregate of the salary, the taxable allowances, if any, and the perquisite
value for the residential accommodation and the furniture provided as mentioned above.
Answer: The tax payable by the Indian company on behalf of the foreign technician will be treated as a perquisite
in the hands of the technician and, therefore, tax will be levied on the tax paid by the company on behalf of the technician.
Whether readers are looking for commentary on the new Compensation Discussion and Analysis section, or details on the new perquisite
disclosures, the Guide will help them get answers fast," said Compliance Week Managing Editor Matt Kelly.
Olympic champion and model Lisa Leslie, soon to be a player for the WNBA's Los Angeles Sparks, told Seventeen magazine that her favorite perquisite
is getting to have a floor seat to watch her male counterparts in the NBA.
The increase in perquisite
values is a preview of the changed look we can expect of executive compensation under the new SEC rules," Koors concluded.
NEW YORK, May 15 /PRNewswire/ -- Company-paid automobiles are the most frequently provided executive perquisite
according to a nationwide survey of companies by Coopers & Lybrand L.
In addition, detailed information was collected on the benefits and perquisite
of the highest paid administrators at each type of facility.