MR.K(EMPLOYEE) HAS BEEN EMPLOYED WITH IOC(EMPLOYER). MR.K IS A OWNER OF HOUSE PROPERTY. THIS PROPERTY IS TAKEN ON A LEASE BY IOC ON APPIONTMENT AND SUBSEQUENTLY GIVEN BACK TO MR.K AS A RENT FREE ACCOMADTION. NOW. THE PROBLEM IS THAT HERE MR.K IS BOUND TO PAY TAX ON HOUSE PROPERTY U/H THE IHP AND AS PREKS IN RULE 3(1) U/H SALARY.
PLEASE EXPLAIN WHAT IS TO BE DONE IN THIS CASE & IS THERE IS DOUBLE TAXATION?
CAclubindia
