Rationalization of provisions related to the valuation of residential accommodation provided to employees

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..... perquisite" inter alia includes value of rent-free accommodation or value of any concession in the matters of rent provided to employees by the employer. The employer may be either Central/State Government or other than that, with different methodologies of valuation of perquisites for the two categories of employers. 2. However, the methodology to compute the value of rent-free accommodation is .....

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..... ssessee by his employer at a concessional rate. 4. Further, it is proposed to amend the Explanation 1 to sub-clause (ii) of clause (2) of section 17 of the Act so as to provide that accommodation shall be deemed to have been provided at a concessional rate if the value of the accommodation computed in the prescribed manner exceeds the rent recoverable from, or payable by, the assessee. 5. Furthe .....

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