Is Leave Accommodation Government organization is taxable in the hand of Individual ?
2 Replies
Yasaswi Gomes new
(Finance )
(4545 Points)
Replied 23 February 2024
Yes, Leave Accommodation provided by a Government organization is taxable in the hands of an individual. This facility is termed as ‘Perquisite’ under section 17 of the Income Tax Act and is taxable for employees . When an employer provides rent-free accommodation or accommodation at a concessional rate, it is considered a perquisite and is subject to taxation under the head of income ‘Salaries’ according to the IT Act. Therefore, individuals who receive such benefits need to include them in their taxable income. If you have any more questions, feel free to ask! 😊 Even TDS is applicable on perquisites.
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