Sir,
i want to know if a school is providing bachelor single room accomodation to its Managerial staff (in taxable bracket) is it required to calculate perquisite for that accomodation.
regards
Ramesh
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Clarification on perk applicability for room accomodation
Replies (1)
Yes, you are required to calculate the perquisite value. You should identify the population of your city based on the 2011 Census and determine if the room is owned or leased by the school to apply the correct percentage or lease-cost limit. This amount must be included in your taxable salary income.
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