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of <h1>Proposed Budget 2025-26: Amendments to Section 17 of Finance Act Raise Income Limits for Employee Perquisites Calculation</h1> The Union Budget 2025-26 proposes amendments to section 17 of the Finance Act, increasing the income limits for calculating employee perquisites. Currently, benefits provided by employers are not considered perquisites if the employee's salary does not exceed fifty thousand rupees, a limit set in 2001. Additionally, employer expenses for overseas medical treatment are excluded from perquisites if the employee's income does not exceed two lakh rupees, a threshold from 1993. The proposed changes aim to adjust these limits to reflect current economic conditions, effective from April 1, 2026, applicable for the 2026-27 assessment year onward.
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