Day: November 10, 2023

A perquisite is a benefit or amenity that an employee receives in addition to their

The prescribed interest rate is the rate charged by the State Bank of India (SBI)

Section 17(2)(v) of the Income Tax Act allows an employer a deduction for the amount

Section 17(2)(iv) of the Income Tax Act, 1961, states that any sum paid by the

Leave Travel Concession (LTC) is a tax-free benefit that is given to employees by their

The valuation of perquisite in respect of gas, electricity or water supply provided free of

If the accommodation is owned by the employer under Income Tax Act: The value of

The valuation of rent-free furnished accommodation under the Income Tax Act is based on the

The Income Tax Act, 1961 defines a “specified employee” as an employee who is employed

Perquisite is a benefit or amenity granted or provided free of cost or at a