Perquisite - rent free accommodation - in spite of the legal ...

Income Tax

August 26, 2012

Perquisite - rent free accommodation - in spite of the legal position that Rule 3 is intra vires, valid and is not inconsistent with the provisions of the parent Act under section 17(2)(ii), it is still open to the assessee to contend that there is no 'concession' in the matter of accommodation provided by the employer to the employee and hence the case did not fall within the mischief of section 17(2)(ii) of the Act - AT

View Source

← Previous Next →

Perquisite - rent free accommodation - in spite of the legal ...

Income Tax

August 26, 2012

You may also like:

Perquisite value of rent free accommodation - reference to Section 17(2)(i) was unwarranted because the assessee was under no obligation to incur the expenses on repairs...

Tax borne and paid by the employer has to be excluded while computing the perquisite of "rent free accommodation" - HC

Addition on account of rent free accommodation provided to the assessee which was valued u/s. 28(iv) - part-time director in the company - the value of rent free...

Rationalization of provisions related to the valuation of residential accommodation provided to employees - For uniform method of computation of value of perquisite,...

Income u/s 2(24) - Whether the tax paid by the employer is a “perquisite” within the meaning of Section 17(2) and, therefore, in terms of Rule 3 of the Income Tax Rules,...

Computing value of perquisites u/s 17(2) - residential accommodation - Merely because assessee is a body or undertaking owned or controlled by the Central Government, it...

Power of CBIC to issue circular and delegate the functions of 'Proper officer' to issue Audit Report - The High Court held that the impugned circulars are intra vires...

Income from salary - provision of accommodation at concessional rent - difference between the market rent and the rent actually paid by the assessee - no benefit...

Liability of GST - GST on notional rent - property of the partner used by the Partnership Firm to carry out the business by the firm at free of rent - GST is liable to...

Determination of perquisite value - Notional interest on deposit given by the employer with the landlord for securing the rented premises - Not a perquisite - not taxable - AT

Determination of perquisite value - Rule 3 - Where an employer takes residential premises on rent by giving security deposit for the benefit of employees, whether the...

Input tax credit - GST paid for hotel stay in case of rent free hotel accommodation provided to employees of the Applicant - ITC is not available in view of section 17(5)(g)

Treatment to tax paid on the facility of rent free accommodation by the employer - taxable or exempt? - HC

Exemption from GST - hostel accommodation extended by the Applicant hostel - accommodation services provided to students and working women - unless the twin conditions...

Business perquisite - the perquisites of business are taxable under clause (iv) of Section 28 of the Act, which contemplates that the value of any benefit or perquisite - HC

Quick Updates: