‘Perquisites’ as per section 17 as it is and as it will be after amendments proposed.- Complications, litigation are discussed to highlight need to simplify provisions for the head ‘salaries’ which should be simple and easy to understand and implement. https://www.taxtmi.com/article/detailed?id=13705 Clause 9 of the Finance Bill, 2025 amends clause (2) of section 17 by substituting fixed monetary thresholds with the phrase "such amount as may be prescribed" for certain perquisite valuation and exclusion conditions. The change makes subordinate rulemaking under the Income-tax Rules necessary to prescribe amounts and valuation methods, will take effect from 1st April, 2026, and interacts with section 17's inclusive definitions of "salary", "perquisite" and "profits in lieu of salary", thereby affecting computation, TDS practice, and administrative guidance. en-us Tue, 04 Mar 2025 08:22:46 +0530 Tue, 04 Mar 2025 08:22:46 +0530 TaxTMI RSS Generator ‘Perquisites’ as per section 17 as it is and as it will be after amendments proposed.- Complications, litigation are discussed to highlight need to simplify provisions for the head ‘salaries’ which should be simple and easy to understand and implement. https://www.taxtmi.com/article/detailed?id=13705 Clause 9 of the Finance Bill, 2025 amends clause (2) of section 17 by substituting fixed monetary thresholds with the phrase "such amount as may be prescribed" for certain perquisite valuation and exclusion conditions. The change makes subordinate rulemaking under the Income-tax Rules necessary to prescribe amounts and valuation methods, will take effect from 1st April, 2026, and interacts with section 17's inclusive definitions of "salary", "perquisite" and "profits in lieu of salary", thereby affecting computation, TDS practice, and administrative guidance. Articles Income Tax Tue, 04 Mar 2025 08:22:46 +0530 https://www.taxtmi.com/article/detailed?id=13705