perquisite

 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...!

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
ARTICLESHIP 17 August 2026
CA Article Trainee

ASC Group

Noida

CA Inter

View Details
Company
28 August 2026
Audit Manager

K A R M & CO

Mumbai

CMA

View Details
Company
06 August 2026
Sr accounts executive, Asst Manager

JAMNA AUTO INDUSTRIES LTD

Jamshedpur

CA Inter

View Details
Company
19 August 2026
Chartered Accountant - Financial Consolidation & Reporting

Synergy Keystone

Mumbai

CA

View Details
Company
17 August 2026
Chartered Accountant with US GAAP Experience

Austin Med Solutions Pvt Ltd

Bengaluru

CA

View Details
Company
Featured 06 August 2026
Junior Accounting Associate

Prish Consultancy LLP

New Delhi

B.Com

View Details
Company
28 August 2026
Assistant Manager

NRS AND ASSOCIATES

Kozhikode

CA Inter

View Details
Company
ARTICLESHIP 29 August 2026
Article Assistant

RRPM & ASSOCIATES LLP

Chennai

CA Inter

View Details