TaxTMI 
TaxTMI 
TaxTMI 
Perquisites - Rent-free Accommodation - (New) Rule 15(2) / (Old) Rule 3(1)
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....termine by Government - Rent actually paid by employee) + (10% p.a. of the cost of furniture if owned by the employer or the actual hire charges paid / payable - Any charges paid / payable for such furniture by employee during the Previous year) (2) Provided by other than Central Government or any State Government, to the employees • (a) where the accommodation owned by the employer, then perquisite • In case of Unfurnished Accommodation taxable Perquisite Value determined [ Population of city as per 2011 census ] • Population ≤ 15 Lakhs = 5 % of Salary - Actual Rent Paid by Employee • 15 lakhs < Population ≤ 40 lakhs =....
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....loyer or 10% of salary) - Rent actually paid by employee)] + ​​​​​​​(10% per annum of the cost of furniture or actual hire charges furniture - any charges paid or payable by the employee) • (c) Hotel Accommodation provided in case of transfer of employee from one place to another palace • Exempt for up to 15 days annually. • Beyond 15 days: Taxable value is the lower of 24% of salary or actual hotel charges. Meaning of Salary "salary" • includes the pay, allowances, bonus or commission payable monthly or otherwise or any monetary payment, by whatever name called, from one or more employers, as the case may be, ....
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....bsp; = 5 % of Salary - Actual Rent Paid by Employee • 15 lakhs < Population ≤ 40 lakhs = 7.5 % of Salary - Actual Rent Paid by Employee • Population > 40 Lakhs = 10 % of salary - Actual Rent Paid by Employee • (b) Where the accommodation is taken on Leased or rented by the employer • Taxable Value is lower of the following below mentioned as reduced by the rent paid by the employee. •....
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....ayable - Any charges paid / payable for such furniture by employee during the Previous year) Accommodation in a hostel (Provided by any employer) • Exempt for up to 15 days annually. • Beyond 15 days: Taxable value is the lower of • 24% of salary for the period during which such accommodation is provided during P/Y • Actual charges paid or payable to such hotel by the employer Salary for the purpose of Valuation of Accommodation Includes: Does not includes: • Basic pay • Dearness Allowance (if forms part of salary for retirement benefits) • Bonus or fees • Commission payable monthly or otherwise ....
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....e if it is provided to a High Court Judge,Supreme Court Judge, Union Minister, Leader of Opposition in Parliament, An official in Parliament and serving Chairman and member of UPSC. Upto 31.08.2023 UNFURNISHED ACCOMMODATION • 1. Provided by the Central / State Govt :- License fee determined by Govt. as reduced by the rent actually paid by the employee. is the Taxable Valuable • 2. Provided by any other employer:- • Where the accommodation is owned by the employer [ Population of city as per 2001 census ] • Population ≤ 10 Lakhs &n....
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...., • as reduced by Any charges paid / payable for such furniture by employee during the P/Y (if any) Hotel Accommodation (Provided by any employer) • Exempt for up to 15 days annually. • Beyond 15 days: Taxable value is the lower of • 24% of salary for the period during which such accommodation is provided during P/Y • Actual charges paid or payable to such hotel by the employer Salary for the purpose of Valuation of Accommodation Includes: Does not includes: • Basic pay • Dearness Allowance (if forms part of salary for retirement benefits) • Bonus or fees • Commission payable monthly or otherwise ....