Amendment in Rule 3 for Determination of value of Perquisite.

Finance Act, 2023 brought in an amendment for the purposes of calculation of “perquisite” with regard to the value of rent-free or concessional accommodation provided to an employee by his employer. The earlier perquisite rates of 15%, 10% and 7.5% of the salary have now been reduced to 10%, 7.5% and 5% or the salary respectively in the amended Rule


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