Income Tax : The draft rules revamp perquisite valuation and allowances, raising car-related taxes while expanding relief for education, HRA, a...
Income Tax : The draft Income-tax Rules, 2026 consolidate perquisite valuation into a single framework and significantly raise exemption limits...
Income Tax : The rules clarify how rent-free or concessional housing is taxed differently for government and private employees, depending on lo...
Income Tax : Interest-free or concessional loans from employers are taxable as perquisites under Section 17. Learn how to calculate the taxable...
Income Tax : Understand tax rules for rent-free or concessional employer-provided accommodation. Learn valuation methods, exemptions, and perqu...
Income Tax : Perquisites includes the value of any concession in the matter of rent respecting any accommodation provided to the assessee by hi...
Income Tax : State Bank of India: Interest Rates on 1st April, 2011- For the purpose of computing perquisite valuation Interest rates as on 1st...
Income Tax : The salaried class, reeling under the inflationary pressures, has suffered yet another setback this holiday season with the announ...
Income Tax : THE much-awaited perquisite valuation rules have finally been notified by the CBDT. The Board has amended Rule 3 to give effect to...
Income Tax : It's not often that the taxman comes to sting you five-and-a-half months after the budget speech. But finance minister Pranab Mukh...
Income Tax : ITAT Delhi dismisses Revenue's appeal against order of Commissioner of Income Tax (Appeals) regarding valuation of perquisites and...
Income Tax : CIT Vs Shankar Krishnan (Bombay High Court) Whether Notional Interest on Security Deposit paid by employer for accommodation of it...
Income Tax : ITAT held that order of the ld CIT(A) is hereby affirmed where he has held the assessee bank to be assessee in default for short-d...
Income Tax : Brief facts of the case are that The assessee received a sum of Rs.90,090/- towards reimbursement of medical expenses from the com...
Income Tax : Scheme of the Act provides that after the employer deducts from the salary of the employee the tax and pays the same to the Centra...
Income Tax : Corrigendum for the Notification bearing G.S.R. No. 615 (E) dated 18.08.2023 i.e. Income Tax Notification No. 65/2023 dated 18th A...
Income Tax : CBDT has modified Income Tax Rules, 1962, to determine the value of perquisite for residential accommodation provided by employers...
Income Tax : CBDT issued Income Tax Circular No. 04/2022 on 15th March 2022 and explained all provisions related to deduction of Tax At Source ...
Income Tax : Notification No. 94/2009 - Income Tax For the purpose of computing the income chargeable under the head Salaries, the value of pe...
Notification No. 94/2009 – Income Tax For the purpose of computing the income chargeable under the head Salaries, the value of perquisites provided by the employer directly or indirectly to the assessee (hereinafter referred to as employee) or to any member of his household by reason of his employment shall be determined in accordance with the following sub-rules, namely:-
Recently, the Supreme Court has rendered a very important judgement in respect of valuation of perquisite regarding housing accommodation provided by an employer to its employees, in the case of Arun Kumar and Others Vs. Union of India [2006] 286 ITR 89 (S.C.). In this case, the validity of rule 3 of Income-Tax Rules, 1962(the Rules), as amended in 2001,
