August 19, 2023 10:31 PM

CBDT notifies rule for determination of value of perquisite in respect of residential accommodation provided by employer

Central Board of Direct Taxes, CBDT has notified rule for determination of value of perquisite in respect of residential accommodation provided by employer. The Finance Act, 2023 brought in an amendment for the purposes of calculation of perquisite with regard to the value of rent-free or concessional accommodation provided to an employee, by his employer. Accordingly, CBDT has modified Rule 3 of the Income-tax Rules, 1961 to provide for the same. The categorisation and the limits of cities and ...