The B-School placement season is on. Its a mutual selection process. Companies make a sales pitch in their presentation to attract 'the right kind of people' while candidates put in a fight for the companies they want to get in. One parameter that every company which makes a presentation on campus gets evaluated on is compensation package. It would definitely figure into Top 5 (I am more tempted to right 3) for every individual. The Buzz this year (or maybe every year for all I know) is flexible compensation packages or cafeteria benifits. Most companies seem to provide compensation packages where in you can structure the package (apart from certain specified components) so as to suit your life style. The idea you can minimize your tax liabilities the way you want. Companies also offer perks, which if paid in terms of cash would be subject to IT deductions.
But for all you know - The company HR/salaried executive proposes - FM disposes.
Just read this article. The gist is this. It seems the Fin Min is planning to bring all those perks (specifically credit cards, club memberships, tranport - company owned car & chaffueurs, Health clubs etc) under the tax scanner. So a friend of mine who works in this world's most dominant software company whose products run more tha 90% of PCs and claims he enjoys perks above 50% of his salary, might be in for a shock after the budget.
So could we. Most of will be getting our first salaries in June/July. The rule sof the game might have changed by then.
The article is here