What is the meaning of perquisites?
What is the meaning of perquisites?
1 : a privilege, gain, or profit incidental to regular salary or wages especially : one expected or promised. 2 : gratuity, tip. 3 : something held or claimed as an exclusive right or possession.
What are perquisites examples?
Perquisites are emoluments or benefits received from an employer, in addition to salary. For example, Rent-free accommodation. Amount paid by an employer in respect of any obligation which otherwise would have been payable by the employee, for example – payment of income-tax.
What is perquisite or a perks?
Perq is an abbreviation of perquisite, which means a benefit, tip or bonus of employment. Though occasionally found in print and in newspaper stories, perq is not found in most dictionaries. The accepted spelling for the abbreviation of perquisite is perk, usually rendered as the plural, perks.
Is Perk short for perquisite?
Perk is an abbreviation of perquisite.
What are perquisites in salary?
“Perquisite” may be defined as any casual emolument or benefit attached to an office or position in addition to salary or wages. “Perquisite” is defined in the section 17(2) of the Income tax Act as including: (ii) Any sum paid by employer in respect of an obligation which was actually payable by the assessee.
What is perquisites and its types?
Perquisite is defined as a privileged gain or profit incidental to regular salary. Perquisites are both taxable and exempt. Perquisites can be simple as company car, fuel reimbursement etc. or may also include interest-free loan, medical facilities, credit cards, accommodation sponsored by the company, etc.
What is salary u/s 17 2?
“Perquisite” is defined in the section 17(2) of the Income tax Act as including: (i) Value of rent-free/concessional rent accommodation provided by the employer. (ii) Any sum paid by employer in respect of an obligation which was actually payable by the assessee.
Is HRA a perquisite?
HRA is an allowance that is added to your salary and is tax-exempt to a certain extent (as per IT rules) whereas CLA is treated as a benefit that is given by the company to an employee and is taxable in the hands of the employee. i.e. you as an employee are liable to pay income tax on the perquisite value of the house.
Is perquisites part of salary?
Perquisites are included in salary income only if they are received by an employee from his employer (maybe former, present or prospective). Perquisites, received from a person other than employer, are taxable under the head “Profits and gains of business or profession” or “Income from other sources”.
How is rent free house calculated?
Rent Free Accommodation – Leased by Employer In case of rent-free accommodation provided to an employee, wherein the employer has taken the property on lease or rent, the value of the perquisite would be the actual amount of lease or rental paid or 15% of the salary, whichever is lower.
What does the word required mean in Marathi?
required = आवश्यक Pronunciation = required Pronunciation in Marathi = रिक्वायर्ड required in Marathi: आवश्यक Part of speech: Adjective Definition in English: necessary for relief or supply
What is the meaning of prejudice in Marathi?
Meaning and definitions of prejudice, translation of prejudice in Marathi language with similar and opposite words. Spoken pronunciation of prejudice in English and in Marathi. What prejudice means in Marathi, prejudice meaning in Marathi, prejudice definition, explanation, pronunciations and examples of prejudice in Marathi.
Where can I find a translation of Marathi?
Also see the translation in Marathi or translation in English, synonyms, antonyms, related words, image and pronunciation for helping spoken English improvement or spoken Marathi improvement.
Which is the best definition of the word perquisite?
an incidental payment, benefit, privilege, or advantage over and above regular income, salary, or wages: Among the president’s perquisites were free use of a company car and paid membership in a country club. a gratuity or tip. something demanded or due as a particular privilege: homage that was once the perquisite of royalty.
What is the meaning of perquisites? 1 : a privilege, gain, or profit incidental to regular salary or wages especially : one expected or promised. 2 : gratuity, tip. 3 : something held or claimed as an exclusive right or possession. What are perquisites examples? Perquisites are emoluments or benefits received from an employer, in…