What is salary with regard to Residential accommodation perquisites?. Whether the Basic salary alone to be taken or the net total income?
1 Replies
Giridhar S Karandikar
(Team Lead)
(7548 Points)
Replied 01 October 2012
As per Rule 3(1) of the I-T Rules, the salary to be takne for teh purpose of valuation of residential accomodation is Basic+D.A.+Bonus. DA shud be taken to the extent it is considered for calcualting retirmetn benefits.
The perquisit would be taken as 15% of the salary as computed above. If furnised accomodation is also provided the value to the tune of 10% of its cost shud be added to teh value of perquisite.
Recent Topics
- GST basics for a freelancer
- UNSECURED NCD BY NBFC
- Strict action against CAs and agencies who mislead
- Commission paid to non resident tds
- Foreign Asset - Holding and Income Reporting
- Equity Share Related Enquiry
- Not able to submit Trust accounts online on Charit
- Stock Group v. Stock category in Tally prime
- Settlement of PF Claims
- Bill TO SHIP TO INVOICE HSN
Related Threads
Trending Online Classes
-
Excel Mastery Program
CA Rishabh Pugalia
CAclubindia
