Non-monetary employee perks included in book profit u/s 115JB are disallowed u/s 40(a)(v) of the Income Tax Act.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Addition on account of income tax on perquisite while computing book profit u/s 115JB - non-monetary perquisites provided to employees forms part of Employee Benefit cost and akin to FBT since they are certainly not below the line items since the same are expressively disallowed u/s 40(a)(v) and the same do not constitute Income Tax for the assessee in terms of Explanation-2 - hence no disallowance....