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perquisite

Others 679 views 3 replies

 presently ,i am working in power station which is located 33k.m. away from town and we get avail                                                                                                                                                                           concessional rent facility on quarter provided by the power station .my question is    (1)wheter   perquisite is to valued       

(2)whether can we exempted from perquisite

Replies (3)

perquisite for official purpose is exempt

As per the Income Tax rules, Rule 2......proviso to sub-rule (1) clearly provides that the valuation provisions given in that sub-rule doesn't apply to the valuation of any

"any accommodation provided to an employee working at a mining site or an on-shore oil exploration site or a project execution site, or a dam site or a power generation site or an off-shore site which,—

           (i)  being of a temporary nature and having plinth area not exceeding 800 square feet, is located not less than eight kilometers away from the local limits of any municipality or a cantonment board; or

          (ii)  is located in a remote area"

Hence in your case......no valuation provisions shall apply hence the perquisite shall not be taxable....................

Yes, Ashish is correct...!


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