taxabilty of rent free accommodation share by 3 employees
This query is : Resolved
Vikrant Bansal
(Querist)
08 July 2011
kindly clarify the status in case of shares accommodation provided by employer to 3 employees owned by employer for the purpose of rfa under income tax act
CA PARAS BAFNA
(Expert)
08 July 2011
It is an interesting case.
Each employee (X, Y and Z) has been given a rent free accommodation.
They may decide mutually and inform to the employer that the perquisite to be added in the hands of Z only. X and Y are dwelling there in the capacity of friends of Z.
Each employee (X, Y and Z) has been given a rent free accommodation.
They may decide mutually and inform to the employer that the perquisite to be added in the hands of Z only. X and Y are dwelling there in the capacity of friends of Z.
Praveen Sharma
(Expert)
09 July 2011
agree with expert view
10 July 2011
I disagree with the experts. If all are getting HRA then each of them can claim 1/3rd of rent paid and the balance shall be taxable as per the provision of section 10(13A).
If employer is paying the rent and not deducting anything then 10% is to be added as perquisite.
If employer is paying the rent and not deducting anything then 10% is to be added as perquisite.
Praveen Sharma
(Expert)
10 July 2011
The facts have to clear by the Vikrant Bansal, On that basis opinion will be given. There is not any question of agree or disagree.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Depreciation Chart Companies Act
- GST Audit whether Govt Companies are exempt?
- PTRC Show Cause Notice on Email
- Accounting treatment of AMC alongwith the purchase of Laptop
- Unable to File TDS Q2 Return – New TRACES Portal Error
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- Transfer of Physical Stock Between Two Proprietorship Concerns
- MSME disclosure and disallowance
- Taxation of crypto futures in India Fy 2026- 2027
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
