Perquisites - Residual - Any other benefit, Amenity, Service or Right - (New) Rule 15(5)(a) / (Old) Rule 3(7)(ix)

Residual perquisite valuation under salary income rules treats unspecified employer benefits at arm's length cost less employee contribution.

Any other benefit, amenity, service, right or privilege provided by an employer to an employee is treated as a taxable perquisite where it is not covered by a specific valuation rule. Its value is determined by reference to the employer's cost in an arm's length transaction, reduced by any employee contribution. The provision operates as a residual valuation rule for salary income and applies where the employer confers a non-specified benefit or privilege on the employee.