Perquisite: employer paid pilot licence insurance premiums are taxable as employment benefits; compensation for licence loss also taxable. Where an employer pays or reimburses insurance premia for loss of a pilot's licence, that payment is a perquisite and taxable in the pilot's hands; compensation received for loss of licence is also taxable. Completed assessments need not be reopened to tax such perquisites, and earlier contrary guidance is modified.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Perquisite: employer paid pilot licence insurance premiums are taxable as employment benefits; compensation for licence loss also taxable.
Where an employer pays or reimburses insurance premia for loss of a pilot's licence, that payment is a perquisite and taxable in the pilot's hands; compensation received for loss of licence is also taxable. Completed assessments need not be reopened to tax such perquisites, and earlier contrary guidance is modified.
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