CBDT AMENDS RULE 3 UNDER SECTION 12AA - Valuation of perquisites

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.... accommodation with retrospective effect from 1st day of April, 2006, that is with effect from assessment year 2006-2007. This has necessitated similar reduction of rates in case of both rent-free and concessional rent accommodations and leased accommodation in Table I of rule 3 with retrospective effect from 1st day of April, 2006, that is in relation to assessment year 2006-2007 and subsequent y....