Case Law Details
Case Name : Pratim B. Mukerjea Vs. ACIT (ITAT Mumbai)
Related Assessment Year :
Courts :
All ITAT ITAT Mumbai
RELEVANT PARAGRAPH
5. We have perused the records and considered the rival contentions carefully. The dispute is regarding determination of perquisite value on account of accommodation provided by the employer company. The employer company had taken the said accommodation on lease at monthly rent of Rs. 5,000/- after paying interest free deposit of Rs. 1.20 crores to tne landlord. The accommodation had been provided to the assessee at the same rent of Rs. 5,000/- per month and the assessee was also being charged an additional sum of Rs. 15,000/- per month for furniture and fixtures provided by...
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Dear Sir,
With ref. to the case sighted on Perquisite Tax on company provided accomodation, kindly specify the tax rate applicable on the Perquisite Value. Is it to be taxed on AVERAGE RATE or on the GENERAL TAX RATE APPLICABLE for the individual? An urgent to reply to my e-mail shall be highly appreciated.
Sanjoy Mukherjee