03-04-2010, 03:46 AM
<blockquote id="quote"><font size="1" face="Verdana, Arial, Helvetica, san" id="quote">quote<hr height="1" noshade id="quote"><i>Originally posted by smimranhaider</i>
<br />If the accommodation is provided by the employer to the employee them how the value of accommodation will be terermined. Either it will be determined from his basic salary???? Suppose basic salary is Rs 20,000/- per month.
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Dear,
Where only accommodation is provided by the employer to its employee, Higher of two amount will be taxable;
- 45% of minimum time scale or basic salary.
- Fair market rent.
In your case, you need to ascertain whether fair market rent is higher or 45% of basic (i.e. 20000*12=240000*45%=108000) is higher, higher of the two amount will be added to the taxable income of the employee.
Regards,
<br />If the accommodation is provided by the employer to the employee them how the value of accommodation will be terermined. Either it will be determined from his basic salary???? Suppose basic salary is Rs 20,000/- per month.
<hr height="1" noshade id="quote"></font id="quote"></blockquote id="quote">
Dear,
Where only accommodation is provided by the employer to its employee, Higher of two amount will be taxable;
- 45% of minimum time scale or basic salary.
- Fair market rent.
In your case, you need to ascertain whether fair market rent is higher or 45% of basic (i.e. 20000*12=240000*45%=108000) is higher, higher of the two amount will be added to the taxable income of the employee.
Regards,
