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of <h1>New Rules Clarify Tax Valuation for Employee Perks: Housing, Cars, Loans, and More Under Income-tax Rules, 1962.</h1> The statutory provisions outline the valuation of perquisites for income tax purposes under the Income-tax Rules, 1962. The rules specify how the value of perquisites such as residential accommodation, motor car usage, and other benefits provided by employers to employees or their households should be calculated. The valuation depends on various factors, including the type of accommodation, the population of the city, and the nature of the perquisite. Specific rules apply to different scenarios, such as government-provided accommodation, leased properties, and use of company vehicles. The provisions also cover benefits like free education, interest-free loans, and other amenities, with detailed criteria for determining their taxable value.
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