Education Facility for only children covered
It is exempt upto Rs 1000
If Education facility up to Rs 1000/- then exempt .
if greater than Rs 1000/- then whole amount taxable.
For example:- If Education facility is Rs 1100,then whole 1100 taxable (and not balance 100)
This can be
Monetary (in nature of Reimbursement of school fees of children)
or
Non Monetary (free school for children)
Taxability
If it is monetary,then taxable for all
If it is non monetary ,then taxable for specified employees only
But of course,if it is upto 1000,then exempt
Written on March 12, 2016, 9:17 p.m.