RE:Rent free Accomodation
by Amitabh on May 04, 2007 08:00 PM Permalink
In case the accommodation provided is owned by the company,the taxable value of the perquisite will be 15 % of salary if population of the city is more than 25 lacs,10 % of the salary if population of the city is between 10 and 25 lacs and 7.5 % of the salary if population of the city where accommodation is provided is less than 10 lacs.If any deduction is made towards rent by emplyer,that will be reduced from the value of perquisite.Salary for this purpose is basic salary,DA,all payments received in cash but does not include perquisites and allowances to the extent exempt from tax.This amendment is appliacable from 2005-06 onwards.
RE:Rent free Accomodation
by anurag rastogi on May 07, 2007 02:59 PM Permalink
Hello Amitabh,
you you have any goverment documents which proof all these what you have said in your statement,I required all these to show to my comapny. Please send it on "anurag23@rediffmail.com" Thanks anurag
RE:Rent free Accomodation
by Amitabh on May 08, 2007 07:58 AM Permalink
This has been spelt out by the Finance Minister when the Finance Bill was passed by the Lok sabha.Wait for sometime,once the Bill is through,you can find the same on www.incometaxindia.gov.in
