Question

discuss briefly the provisions of income tax in relation to the valuation of rent free accomodation​

Answer 1

Explanation:

If the Unfurnished Accommodation given to the employee is leased out or rented by the employer then the income tax chargeable on the perquisite will be the amount that the employer pays as part of the lease or 15% of the employee's income or salary, depending on which amount is lower, minus the rent that the employee ...