PERSONAL TAX: Rent-free home provided by employer is taxed as perquisite

Rent free accommodation provided by the employer to an employee is chargeable to tax as a prerequisite under the head salary. Thus, you shall be required to pay tax on the same. The value of such perquisite is determined separately for governmental and non-governmental employees basis the furnished and unfurnished accommodations as specified by the Income-tax Act, 1961.

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