Free transport perquisite valuation governs concessional personal travel provided by transport employers to employees and household members. Valuation of free transport perquisite applies where a transport employer, other than airline or railways, provides conveyance for passengers or goods and the employee or household member uses it for personal journeys. The taxable value is the public price for the journey less the amount paid by the employee. Under the earlier rule, railways and airlines were treated at nil value, while other transport undertakings were valued by the public price less employee recovery.