Perquisites - Overview - clause (2) of Section 17

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....d in such manner prescribed under Rule 3(1) of the Income-tax Rule, 1962, exceeds the rent recoverable from, or payable by, the assessee; Free/concessional benefits or amenities (based on employee status) iii. Value of any benefit or amenity granted or provided free of cost or at concessional rate to SPECIFIED EMPLOYEES i.e. * Motor car                                                  Value as per Rule 3(2) * Sweeper, Gardener, Watchman etc.        Value....

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.... or to effect a contract for an annuity other than * recognised provident fund or * an approved superannuation fund or * a Deposit-linked Insurance Fund established under section 3G of the Coal Mines Provident Fund and Miscellaneous Provisions Act, 1948, or, as the case may be, * section 6C of the Employees' Provident Funds and Miscellaneous Provisions Act, 1952 Specified securities or sweat equity shares at concessional rate or free vi. The value of any specified security or sweat equity shares allotted or transferred, whether directly or indirectly, by the employer or former employer, Free of cost or at concessional rate to the assessee. Employer's contribution to specified > Rs.7.5 lakh to funds in Previous Year vi....

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.... * Free food & beverages to the employees during office hours      As per Rule: 3(7)(iii) * Gift to the employees                                                                    As per Rule: 3(7)(iv) * Credit card expenses include membership fees & annual fees    As per Rule: 3(7)(v) * Expenditure on account of club expenses     ....