Court Rules Rent-Free Housing for Part-Time Director Must Follow Municipal Guidelines, Not Past Rent Values, Under Sec 28(iv).

Court Rules Rent-Free Housing for Part-Time Director Must Follow Municipal Guidelines, Not Past Rent Values, Under Sec 28(iv). https://www.taxtmi.com/highlights?id=35164 Addition on account of rent free accommodation provided to the assessee which was valued u/s. 28(iv) - part-time director in the company - the value of rent free accommodation determined by the AO on the rent fetched by the property in the earlier years cannot applied - to be determine as per the guidelines of Municipal Corporation - AT en-us Wed, 07 Jun 2017 09:38:16 +0530 Wed, 07 Jun 2017 09:38:16 +0530 TaxTMI RSS Generator Court Rules Rent-Free Housing for Part-Time Director Must Follow Municipal Guidelines, Not Past Rent Values, Under Sec 28(iv). https://www.taxtmi.com/highlights?id=35164 Addition on account of rent free accommodation provided to the assessee which was valued u/s. 28(iv) - part-time director in the company - the value of rent free accommodation determined by the AO on the rent fetched by the property in the earlier years cannot applied - to be determine as per the guidelines of Municipal Corporation - AT Highlights Income Tax Wed, 07 Jun 2017 09:38:16 +0530 https://www.taxtmi.com/highlights?id=35164