Company lease rental
Karthik Ramanie
(Querist) 08 August 2016
This query is : Resolved
Hi Experts. I work for a private company and I have a company lease rental option which I have opted from the month of March'16. I have the registered lease document for 3 years and company signed agreement with Landlord directly paying advance of 5 Lakhs and rent of 36K will be recovered from my Salary and is being paid to the Landlord by the company directly since it is a company lease arrangement. It was going well from March '16 to July'16. Now suddenly the company stopped providing HRA rebate for the rent recovered from me and hence charged me with extra tax for the month of July '16. Also they say that policy is now getting changed and they are telling that the Deposit of 5 Lakhs given by the company on account of Company Lease will have to be recovered from my salary in equal installments before March ' 2017. I have written back strongly stating the the registration lease is valid for 3 years and how suddenly u are recovering the Deposit that too within March 2017. Kindly help me tackle this issue. How can a company suddenly change the policy and affect the existing lease arrangements which is valid till 2018?
malipeddi jaggarao
(Expert) 09 August 2016
You will have to find out the clauses in your appointment order regarding providing Leased accommodation.
Rajendra K Goyal
(Expert) 09 August 2016
The rent paid by the company has perquisite value as per income tax act and the TDS has to be deducted accordingly, certificate regarding perquisite value and TDS need to be issued by the company.
If the lease is direct in the name of the Company, it is not justified in recovering deposit money from you till specifically mentioned in service contract. Write to the Company regarding this.
Kumar Doab
(Expert) 09 August 2016
You have already written.
You are likely to get reply.
In the meantime go thru the documents that are issued to you on lease and terms of appointment/employment.
