Perquisites - Credit Cards Facility - (New) Rule 15(5)(a) / (Old) Rule 3(7)(v)

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.... be treated as a taxable perquisite (benefit). • Any expense incurred including membership fee and annual fees • Charged to a credit card provided by the employer, or • Paid/reimbursed by the employer (even if it's a personal card). • Personal Expenses • Taxable value = Total expenses borne by the employer, including membership and a....

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....ness expenses (properly documented) Not taxable Partly official, partly personal Only personal portion taxable Under Income Tax Act, 1961 [ Upto 31.03.2026 ] Perquisite Valuation in Respect  of Credit card Facility [ Rule 3(7)(v) of the Income Tax Rule, 1962 ] The perquisite in respect of credit card is taxable as follows: • Expenses incurred* by ....