Please can somebody help me with this:
Suppose X, a private limited company enters into a Live & License Agreement with Z for the residential purpose of the director - Y. Suppose the rent for the month is Rs. 250000. What shall be the perquisite value that shall be added to the salary income of the director (The director earns Rs 100000 p.m. as remmuneration). Assume that the director pays nothing to the company as rent. Will that value differ if the director pays Rs. 15000 in cash to the company as rent for the accomodation provided?
Please assume this to be a case of the A.Y. 12-13.
CAclubindia
