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of <h1>Perquisite under Income-tax Act includes rent-free accommodation, concessional benefits, specified securities, and employer contributions</h1> Perquisite under the Income-tax Act includes the value of rent-free or concessional accommodation provided by the employer, benefits or amenities granted free or at concessional rates to certain employees, specified securities or sweat equity shares allotted at concessional rates, sums paid by the employer on behalf of the employee, and contributions exceeding Rs. 750,000 to recognized funds. Exemptions apply to medical treatment in employer-maintained or government-approved hospitals, insurance premiums under approved schemes, and certain travel and medical expenses abroad subject to prescribed conditions. Definitions clarify terms such as fair market value, family, gross total income, hospital, options, specified securities, and sweat equity shares. The value of securities or shares is determined by fair market value minus any amount paid or recovered from the employee.
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