self lease house provided by employer
This query is : Resolved
Rajat Sarin
(Querist)
26 February 2011
Mr. X gets self lease house from his employer for Rs. 20,000 per month and employer charges Rs. 5,000 per month from Mr. X
Mr. X will show house property income of Rs 2,40,000 (20,000 * 12) in his ROI.
Will he get deduction of Rs 60,000(5,000 *12)from his house property income?
Further employer will charge perquisite tax on self lease house as :-
15% of salary - rent recovered from employee.
I want to know 2 things:-
(a) Whether perquisite tax is correct?
(b) Will Mr. X get deduction of Rs. 60,000 from his house property income?
Mr. X will show house property income of Rs 2,40,000 (20,000 * 12) in his ROI.
Will he get deduction of Rs 60,000(5,000 *12)from his house property income?
Further employer will charge perquisite tax on self lease house as :-
15% of salary - rent recovered from employee.
I want to know 2 things:-
(a) Whether perquisite tax is correct?
(b) Will Mr. X get deduction of Rs. 60,000 from his house property income?
CA. Lohith Jagadeesh
(Expert)
27 February 2011
Hi,
What do you mean by "Self Lease House from his employer" ???
Can you please explain the nature of Contract between the Employer & employee.
Regards
CA.Lohith.J
B.Com,ACA,CS,(ICWA),SAPM Hons,ITF Hons
What do you mean by "Self Lease House from his employer" ???
Can you please explain the nature of Contract between the Employer & employee.
Regards
CA.Lohith.J
B.Com,ACA,CS,(ICWA),SAPM Hons,ITF Hons
23 July 2025
https://docs.google.com/document/d/1PIU1GW5M2NoxF2spDR1cGpnysr2CGy2V9EFSrjPM1dY/edit?usp=sharing
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