Amendment in Rent- Free Accomaodation for May, 2008

Hello guys,
I have bought Income Tax & CST Book of Dr. Girish Ahuja & Dr. Ravi Ahuja. AY 2008-09
It is written there" As the amendment in Rule 3(1) has been brought in om 7-11-2007 (ie. within 6 months prior to the date of examination), students appearing in CA May, 2008 shall have to follow Old Rules of valuation of rentfree accomodation in Salaries."
Is this true?
This is the old rule:
1: If accomodation is owned by the Employer: 20% of the Salary if the population exceeds 4 Lacs; Otherwise 15 % of Salary.

2: If taken on rent by the Employer: Actual amount of rent paid by the Employer or 20% of Salary, whichever is less.



This is the New Rule:
After this amendment valuation of perquisites in respect of Rfa will be as under

1. valuation in case of accommodation provided by Center or State Government to employees:License fee determined by the Central Government or any State Government in respect of accommodation in accordance with the rules framed by such Government as reduced by the rent actually paid by the employee.
2. Valuation in case of accommodation provided by other employer:

* if house owned by employer :

(i) 15% of salary in cities having population exceeding 25 lakhs as per 2001 census;

(ii) 10% of salary in cities having population exceeding 10 lakhs but not exceeding 25 lakhs as per 2001 census;
(iii) 7.5% of salary in other areas,
* if house owned by employer:Actual amount of lease rental paid or payable by the employer or 15% of salary whichever is lower as reduced by the rent, if any, actually paid by the employee.

1. In both above cases if any rent paid by employee to employer will be reduced from valuation arrived as above.
2. In both case if furniture etc is also provided without rent than valuation of perquisites will be added by 10% of the cost of furniture provided.
3. In both the above cases if accommodation provided is a hotel than valuation of RFA will be 24 % of salary except in case of transfer and period in aggregate is not more than fifteen days.
Can some teacher here clarify and assure me which Rule to Follow, The Old Rule or the new amended rules for valuation of Rent Free Accomodation.
Whats written in Singhania's Book?
Plz Help and Thanks in advance.