Perquisites - Free Transport - Rule 3(6) - Income Tax - Ready Reckoner - Income Tax

Rule 3(6) : VALUATION IN RESPECT OF FREE TRANSPORT In case of employees of Taxable Value Railways / Airlines (Employer who is engaged in the carraige of passengers or goods) Nil Any other transport undertaking Value at which such benefit is offered by the employer to the public Less: Recovery from the employee NOTE: Facility received even by any Member of Household and not the only the Employee also falls under the purview of this perquisite and hence chargeable to tax.