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CANAL DIARY15.09.2023A PUBLICATION FROMCANARA BANK OFFICERS\' ASSOCIATIONINDEX A. Important Contacts B. Facilities and Perquisites 1. Brief Case / Leather Bag 2. Broad band / Wi-Fi 3. Business Development

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What is facilities and perquisites?

Facilities and perquisites refer to additional benefits provided by an employer to employees beyond their regular salary. These can include housing, cars, gym memberships, and other non-cash benefits.

Who is required to file facilities and perquisites?

Employers and specific organizations that provide facilities and perquisites to their employees are required to file disclosures regarding these benefits as part of tax reporting.

How to fill out facilities and perquisites?

To fill out facilities and perquisites forms, employers must categorize the benefits provided, assign appropriate values to each benefit, and ensure accurate reporting according to regulatory guidelines.

What is the purpose of facilities and perquisites?

The purpose of facilities and perquisites is to enhance employee satisfaction and retention, attract talent, and comply with tax regulations that require the reporting of non-cash compensation.

What information must be reported on facilities and perquisites?

The information that must be reported includes details about the types of benefits provided, their estimated values, and the employees receiving them.

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