For valuation of rent free accommodation in case of Income from salaries,we need to determine the salary by adding Basic+DA+Commission+Bonus+Fees+Taxable Part of all allowances+Other Monetary Receipts.
Now my question is,suppose an individual who previously worked for other employer,before joining the current job and receives pension from his previous employer,and he gets the Rent Free Accommodation in his CURRENT JOB,will that pension be added as "other monetary receipts" for the purpose of valuation?
If yes,then why?because a company usually gives salary to its employees in a scale basis,so for example,if this individual gets Rs 20000 from his current job,his rent free accommodation would be overvalued if we add the pension from the previous employer.
Please help me with this,thanks in advance!
CAclubindia
