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valuation of rent free accomodation

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(Querist)
28 July 2007 IN FINANCE ACT 2007, THERE IS CHANGE IN VALUE OF RENT FREE ACCOMODATION WITH RESTROPECTIVE EFFECT FROM ASSESSMENT YEAR 2006-07.. BUT RULE 3(1) IS NOT AMENDED. I HAVE TO FILE RETURN FOR THE ASSESSMENT YEAR 2007-08 HOW I VALUE MY PERKS. WHETHER I WILL TAKE RATE 20% , 15% OR 10% & 7.5%. IF I HAVE TO TAKE 10% OR 7.5% , THEN CAN I REVISED MY RETURN OF ASSESSMENT YEAR 2006-07.
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Sanjeev Kumar Varshney

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Sanjeev Kumar Varshney (Expert)
28 July 2007 Mr Yogesh

The amendment is applicable for Concessional accomodation not on rent free accomodations. In my opinion you should file your revised return to claim deduction which were allowed retrospectively..
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CA YOGESH

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CA YOGESH (Querist)
28 July 2007 IN FINANCE ACT 2007, THERE IS CHANGE IN VALUE OF RENT FREE ACCOMODATION WITH RESTROPECTIVE EFFECT FROM ASSESSMENT YEAR 2006-07.. BUT RULE 3(1) IS NOT AMENDED. I HAVE TO FILE RETURN FOR THE ASSESSMENT YEAR 2007-08 HOW I VALUE MY PERKS. WHETHER I WILL TAKE RATE 20% , 15% OR 10% & 7.5%. IF I HAVE TO TAKE 10% OR 7.5% , THEN CAN I REVISED MY RETURN OF ASSESSMENT YEAR 2006-07.
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CA. Dashrath Maheshwari

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CA. Dashrath Maheshwari (Expert)
05 April 2008 I think you may already be filed your ITR, coz itz to late.
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