Example:- X, a director-employee of a private sector company based at Indore (population: 24Lakhs), draws 90,000 p.m. as basic salary. Other allowances and benefits attached to his office are: DA (forming part of Salary): 20% of basic salary; bonus: 30% of basic salary; commission: 800 p.m. and rent free house (lease rent paid by the employer: 40,000 p.m.) Determine the value of perquisite.

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....ing part of Salary): 20% of basic salary; bonus: 30% of basic salary; commission: 800 p.m. and rent free house (lease rent paid by the employer: 40,000 p.m.) Determine the value of perquisite.<br>Sala....