Income Tax Rule 3(7)(v) covers taxation of credit card perks; excludes official expenses with employer certification.

Rule 3(7)(v) of the Income Tax guidelines addresses the taxation of credit card perquisites. The taxable amount includes expenses incurred by the employer for the employee's or their household's credit card use, minus any official use expenses and amounts recovered from the employee. "Expenses incurred" covers costs, membership, and annual fees paid or reimbursed by the employer. If expenses are solely for official purposes and documented with complete details and a certification from the employer, they are not taxable.