Benefits that an individual receives which are supplementary to their income or salary and are related to their official position are known as perquisites. Certain perks or perquisites may or may not be taxed depending on their nature. Fringe benefits or perks are a broad category of benefits and perks that are provided in addition to a person's pay. These components are taxed separately from the employer's account to preserve transparency and accountability.
Taxation of Your Perks & Rewards
Taxation of Your Perks & Rewards
Taxation of Your Perks & Rewards
Benefits that an individual receives which are supplementary to their income or salary and are related to their official position are known as perquisites. Certain perks or perquisites may or may not be taxed depending on their nature. Fringe benefits or perks are a broad category of benefits and perks that are provided in addition to a person's pay. These components are taxed separately from the employer's account to preserve transparency and accountability.