What is salary with regard to Residential accommodation perquisites?. Whether the Basic salary alone to be taken or the net total income?
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Residential accommodation perquisites
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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.
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