27 February 2008
what is the value of perquisite in case of unfurnished accommodation provided to an employee of a bank which is a govt. of india undetaking ?
28 February 2008
Where the accommodation is provided by any other employer (other than Government)and
(a) where the accommodation is owned by the employer,
(i) 15 per cent of salary in cities having population exceeding 25 lakhs as per 2001 census;
(ii) 10 per cent of salary in cities having population exceeding 10 lakhs but not exceeding 25 lakhs as per 2001 census;
(iii) 7.5 per cent of salary in other areas, in respect of the period during which the said accommodation was occupied by the employee during the previous year as reduced by the rent, if any, actually paid by the employee.
or
(b) where the accommodation is taken on lease or rent by the employer. Then:
Actual amount of lease rental paid or payable by the employer or 15 per cent of salary whichever is lower as reduced by the rent, if any, actually paid by the employee.
28 February 2008
whether a bank (a govt. of india undertaking ) is considered as govt or other than govt. employer for the purpose of calculating rent-free unfurnished accommodation?
if considered as a govt. employer what is the value of perquisite taxable in the hands of the employee?
CAclubindia
