VALUATION OF PERQUISITES-AMENDED ON 18/12/2009

Central Board of Direct taxes has Amended the Income Tax rules in respect of valuation of the perquisites vide notification No. 94/2009/F.NO. 142/25/2009-SO (TPL), dated 18-12-2009.These rules has been amended mainly due to abolition of the FBT from 01.04.2009 i.e Fy 2009-10.The New rules shall applicable form the 01.04.2009 means applicable from Fy 2009-10.The main changes I have noticed is that valuation of car perks in respect of party used for personal purpose has been increased by 50% along with Driver salary .I will report other changes in due course in simplified manner .For the Time being I am publishing the full text of the amendment.You may also download the same from the Link given below

Download Thirteenth amendment in Income Tax rules dated 18/12/2009 regarding valuation of perquisites for employees
Check List of tax Free and Taxable allowances
Download List of Tax free allowance U/s 10(14)


Download Thirteenth amendment in Income Tax rules dated 18/12/2009 regarding valuation of perquisites for employees
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Sunday 20 December 2009