Perquisites - Traveling, Touring and Accommodation other than LTC - Rule 3(7)(ii) - Income Tax - Ready Reckoner - Income Tax

Rule 3(7)(ii) : VALUATION IN RESPECT OF TRAVELLING, TOURING / ACCOMMODATION Valuation of perquisite in respect of travelling, touring, accommodation and any other expenses paid/reimbursed by employer for any holiday availed by employee (or any other member of household ) other than LTC: ACTUAL EXPENDITURE INCURRED BY HE EMPLOYER IS TAXABLE. Where such facility is maintained by the employer and available uniformly to all employees Taxable Value shall be expenditure incurred by the employer as decreased by the amount recovered from the employee Where such facility is maintained by the employer and not available uniformly to all employees Taxable Value shall be value at which such facilities are offered by other agencies to the public as decreased by the amount recovered from such employee Notes: Where the employee is on official tour the expenses are incurred in respect of any member of his household accompanying him, the amount of expenditure so incurred in respect of such member only shall be liable to be tax as perquisite. Where any official tour is extended as a vacation, then expenses incurred in relation to such extended period of stay or vacation, shall be treated as perquisite.