Taxation of employer-provided housing: amendment expands employer scope and revises valuation rules for taxable perquisite. Amendments to section 17 expand employer coverage and prescribe valuation rules for employer provided accommodation: unfurnished accommodation valuation varies by employer ownership or lease status and compares a prescribed percentage of salary or actual lease rentals with rent recoverable; furnished accommodation valuation adds a defined annual value for furniture and fixtures or actual hire charges; hotel accommodation valuation uses a prescribed percentage of salary or actual charges with a short stay exception; the definition of salary for these purposes expressly excludes specified items.
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Taxation of employer-provided housing: amendment expands employer scope and revises valuation rules for taxable perquisite.
Amendments to section 17 expand employer coverage and prescribe valuation rules for employer provided accommodation: unfurnished accommodation valuation varies by employer ownership or lease status and compares a prescribed percentage of salary or actual lease rentals with rent recoverable; furnished accommodation valuation adds a defined annual value for furniture and fixtures or actual hire charges; hotel accommodation valuation uses a prescribed percentage of salary or actual charges with a short stay exception; the definition of salary for these purposes expressly excludes specified items.
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