perquisite

Noun

Meaning

Something gained from a place or employment over and above the ordinary salary or fixed wages for services rendered; especially, a fee allowed by law to an officer for a specific service.

Things gotten by a man's own industry, or purchased with his own money, as opposed to things which come to him by descent.

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Examples

suffrage was the prerogative of white adult males Source: Internet

a limousine is one of the fringe benefits of the job Source: Internet

As per Section 17(2)(iv), any sum paid by the employer in respect of any obligation which otherwise would have been payable by the taxpayer, should be considered as a perquisite in the hands of the taxpayer. Source: Internet

In case an employee gets a car from the employer and it is exclusively used for the purpose of employment, irrespective of whether the car is owned by the company or leased/rented, or owned by the employee, there is no perquisite chargeable to tax. Source: Internet

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