Part DCASafe Harbour Rules for income referred to in clause (i) of sub-section (1) of section 9 chargeable to tax under the head (From Rule 10TI to Rule 10TIC )
Perquisite valuation rules under salary income cover accommodation, cars, benefits in kind, loans, and employee share valuation. Rule 3 prescribes the method for valuing perquisites for salary tax purposes, including residential accommodation, motor cars, domestic staff, utilities, ... Summary
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Perquisite valuation rules under salary income cover accommodation, cars, benefits in kind, loans, and employee share valuation.
Rule 3 prescribes the method for valuing perquisites for salary tax purposes, including residential accommodation, motor cars, domestic staff, utilities, education, travel, food, gifts, credit-card and club expenses, movable assets, and other benefits. It also lays down the valuation of interest-free or concessional loans, holiday facilities, and the fair market value of specified securities and sweat equity shares on exercise of option, with defined exclusions, thresholds, and formula-based computations for different categories of benefit.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.