Rent free unfurnished house

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

20 March 2012 Hi,
Please some body help me how to calculate taxable value of Rent free Unfurnished House taken on rent by Employer?

CA Prashant Gupta

CA Prashant Gupta (Expert)
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21 March 2012 for central and state govt employees value of perq is equal to licence fee determined by Govt.
for pvt sector emplyees-
it depend on salary and rent paid by employer.
if property is owned by employer
if population of city is more than 25 lac then 15% of salry for the period.
if population of city is between 10 lac to 25 lac than 10% of salary
any other 7.5% of salary.

if property is rented then
rent or 15% of salary which is low

salary includes basic, DA (if terms of employement provide), bonus, taxable allowances and any other monetary payment.

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