https://www.taxtmi.com/news?id=1171 Income from employment under the DTC is gross salary less permissible deductions; salary includes perquisites, retirement receipts and employer contributions to approved retirement funds. A centralised Retirement Benefits Account scheme was considered but is not proposed due to administrative complexity and hardship. Employer contributions to approved funds within prescribed limits will not be salary, and specified retirement receipts will be exempt subject to monetary limits. Perquisite valuation will be set by rules: medical perquisites follow existing practice with higher limits, and rent free accommodation will not be valued at market rent. en-us Tue, 15 Jun 2010 22:45:44 +0530 Tue, 15 Jun 2010 22:45:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=1171 Income from employment under the DTC is gross salary less permissible deductions; salary includes perquisites, retirement receipts and employer contributions to approved retirement funds. A centralised Retirement Benefits Account scheme was considered but is not proposed due to administrative complexity and hardship. Employer contributions to approved funds within prescribed limits will not be salary, and specified retirement receipts will be exempt subject to monetary limits. Perquisite valuation will be set by rules: medical perquisites follow existing practice with higher limits, and rent free accommodation will not be valued at market rent. News - Tue, 15 Jun 2010 22:45:44 +0530 https://www.taxtmi.com/news?id=1171