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of <h1>Free Meals Taxable Based on Cost Minus Recovery; Exempt if Under 50 Per Meal Unless Opting Section 115(5)BAC.</h1> The valuation of free meals provided by an employer is taxable based on the cost incurred by the employer minus any amount recovered from the employee. However, the taxable value is considered nil if free food and non-alcoholic beverages are provided during working hours at the office or business premises, or through non-transferable vouchers usable only at eating joints, provided the value does not exceed 50 per meal. Tea or snacks provided during working hours in remote areas or offshore installations are also exempt. The exemption does not apply to employees opting for section 115(5)BAC, and only amounts exceeding 50 per meal are taxable.
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