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Treatment of self lease in the hands of employee

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(Querist)
22 August 2008 what is the trestment of lease rent paid to employees for the property of the employee taken on lease by the employer and given on lease to the same employee. whether lease rent is chargeable under income from house property or under salary. whether valuation of perquisite is required for the same. what is the treatment of lease rent if property is jointy owned by employee and his/her spouse and what is the treatment if property is owned by independently by spouse or parents.
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Ranjit Ahluwalia

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Ranjit Ahluwalia (Expert)
22 August 2008 Dea Sachin, In this case lease rent paid shall be taxable under income from House Property and provision of House shall be taxable as Perquisite,
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