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        Income Tax

        Example:-X, an employee of ABC Ltd., posted at Ajmer (population: 18 Lakh), draws ₹ 3,00,000 as basic salary, ₹ 10,000 as DA (forming part of salary) and ₹ 5,000 as commission. Besides, the company provides a rent-free accommodation in Ajmer. The house is owned by the company. Fair rent of the accommodation is ₹ 50,000 p.a. Determine the taxable value of the perquisite.

        10 August, 2015

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        Chapter No. 13 - Salary - Perquisites - Accommodation (Rent Free / Concessional) - Rule 3(1)

        Salary for the purpose of Rent free accommodation: Basic + DA + Commission i.e. 3,15,000

        Since population is 18 Lakh i.e. greater than 10 Lakh and less than 25 Lakh hence, taxable value will be 10% of Salary.

        10% of 3,15,000 = 31,500

        Taxable value of rent-free accommodation set at a percentage of salary when city population exceeds threshold. Taxable perquisite for rent free accommodation is computed by applying the population based percentage to Salary, defined to include Basic, DA (forming part of salary) and Commission; the taxable value equals the prescribed percentage of that aggregated salary.
                        Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
                          Provisions expressly mentioned in the judgment/order text.

                              Taxable value of rent-free accommodation set at a percentage of salary when city population exceeds threshold.

                              Taxable perquisite for rent free accommodation is computed by applying the population based percentage to Salary, defined to include Basic, DA (forming part of salary) and Commission; the taxable value equals the prescribed percentage of that aggregated salary.


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