Hello Everyone,
I am kinda stuck in one point relating to income tax and need your help. I am studying Income-tax from two books using one as the main text-book and the other as a refrence book. With regards to 'Accommodation provided by the employer to the employee in Hotel ,the two books have given divergent treatment .While the first one says that in case the employee's stay at hotel exceeds 15 days, while calculating the value of perquisite ,only the number of days over and above the first 15 days will be considered ,the other book says that the total no of days will be taken into account.
As for example:- Mr X stays in a hotel for 25 days .The first book says that value of perquisite will be calculated for 10 days(25-15) while the other book says that it will be calculated for all the 25 days.
Which of the two is the correct approach??
CAclubindia
