Tax ability would be in hands of whom?

Tax queries 187 views 1 replies

megha kenya

student - article

64 Points Joined October 2015

If an employee lets out his own house to his employer, who in turn gives it back to the employee as a rent free house then taxability in the hands of employee will be what?

Replies (1)

Karthik.V.Kulkarni

Chartered Accountant

594 Points Joined December 2012

As per me, the employee will be taxed on income from house property and perquisites both. But the basic rule of tax is such that an income cannot be taxed twice thus you might take shelter of this. Anyhow this requires detailed analysis as this is highly litigative in nature.