Valuation of perquisites: prescribed formula for lodging and boarding for hotel employees, excluding directors with substantial interest. Instruction prescribing computation of taxable perquisites for hotel employees: lodging valued as a proportion of salary for furnished or unfurnished accommodation or the usual rent, whichever is less; boarding valued at the hotel's actual cost of food supplied (including overheads). The formula applies only to bona fide employees and excludes directors with a substantial interest in the hotel company.
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Valuation of perquisites: prescribed formula for lodging and boarding for hotel employees, excluding directors with substantial interest.
Instruction prescribing computation of taxable perquisites for hotel employees: lodging valued as a proportion of salary for furnished or unfurnished accommodation or the usual rent, whichever is less; boarding valued at the hotel's actual cost of food supplied (including overheads). The formula applies only to bona fide employees and excludes directors with a substantial interest in the hotel company.
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