Perquisite valuation: travel and stay exclusions limited by Reserve Bank permission and an income threshold for employees. The amendment recharacterises the perquisite exclusion by substituting 'travel and stay' for 'travel or stay' and sets two conditions: medical treatment and stay abroad are excluded from perquisite only to the extent permitted by the Reserve Bank of India; travel expenditure is excluded only for employees whose gross total income, computed before including that expenditure, does not exceed two lakh rupees.
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.
Provisions expressly mentioned in the judgment/order text.
Perquisite valuation: travel and stay exclusions limited by Reserve Bank permission and an income threshold for employees.
The amendment recharacterises the perquisite exclusion by substituting "travel and stay" for "travel or stay" and sets two conditions: medical treatment and stay abroad are excluded from perquisite only to the extent permitted by the Reserve Bank of India; travel expenditure is excluded only for employees whose gross total income, computed before including that expenditure, does not exceed two lakh rupees.
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