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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>New Circular Sets Standard Valuation for Hotel Employee Perks: Lodging and Boarding Costs Defined.</h1> The circular addresses the valuation of perquisites for hotel employees required to live on hotel premises with free boarding. It mandates a uniform practice across all Commissioner charges. The value of lodging is set at 12.5% or 10% of the employee's salary, depending on whether the accommodation is furnished or unfurnished, or the usual rent, whichever is less. The value of boarding is based on the hotel's actual cost, including overheads, for the food provided. This formula is applicable only to bona fide employees, excluding directors with significant hotel company interests.
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