Income Tax : Employer-provided interest-free or concessional loans are taxable as salary perquisites due to the financial benefit enjoyed by em...
Income Tax : Eligible individuals, non-corporate taxpayers, and senior citizens can avoid TDS on specified incomes by furnishing Form 15G or Fo...
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 : 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...
Employer-provided interest-free or concessional loans are taxable as salary perquisites due to the financial benefit enjoyed by employees. Exemptions apply for loans up to ₹20,000 and specified medical treatment loans.
Eligible individuals, non-corporate taxpayers, and senior citizens can avoid TDS on specified incomes by furnishing Form 15G or Form 15H when prescribed conditions are met. The rules also mandate UIN allotment, quarterly reporting, and seven-year record retention by the payer.
The draft rules revamp perquisite valuation and allowances, raising car-related taxes while expanding relief for education, HRA, and small perks.
The draft Income-tax Rules, 2026 consolidate perquisite valuation into a single framework and significantly raise exemption limits. Employees gain clearer rules and higher tax-efficient benefits.
The rules clarify how rent-free or concessional housing is taxed differently for government and private employees, depending on location and salary structure.
New tax rules increase salary thresholds for perquisite exemptions. Rules 3C and 3D change limits for tax-free perquisites and overseas medical expenses.
Perquisites and Profits in Lieu of Salary are important components of taxable income under the Income Tax Act of 1961. These refer to additional financial benefits, compensations, or payments that an employer provides to employees beyond their regular salary or wages. They are considered part of the employee’s income and are therefore subject to taxation.
The Finance Bill 2025 proposes raising salary limits for perquisites like amenities and medical expenses, exempting some employees from additional taxation.
Learn how employer contributions over ₹7.5 lakhs are taxed under Section 17(2)(viia), including rules for taxable perquisites and accretions in PF, pension, and NPS.
Learn how to compute the perquisite value of rent-free accommodation under Section 17 of the Income Tax Act, including recent rule changes and effective dates.
