Rule 14: Any special allowance granted to the

Bare law

Rule 14 - Any special allowance granted to the

14. (1) The expenditure in relation to income which does not form part of the total income shall be the aggregate of following amounts:— (a) the amount of expenditure directly relating to income which does not form part of total income; and (b) an amount equal to 1% of the annual average of the monthly averages of the opening and closing balances of the value of investment, income from which does not or shall not form part of total income. (2) The amounts referred to in sub-rule (1) shall not ex

Valuation of perquisites. 15.(1) For the purpose of computing the income chargeable under the head "Salaries", the value of perquisites provided by the employer, either directly or indirectly, to the assessee (herein referred to as the employee) or to any member of his household by reason of his employment, shall be determined in accordance with the provisions of this rule. (2)(a) The value of residential accommodation provided by the employer, for the purpose of section 17(1)(a) and (b), during

(a) where the accommodation is owned by the employer; or (i) 10% of salary in cities having population exceeding forty lakhs as per 2011 census in respect of the period during which the said accommodation was occupied by the employee during the tax year as reduced by the rent, if any, actually paid by the employee; (ii) 7.5% of salary in cities having population exceeding fifteen lakhs but not exceeding forty lakhs as per 2011 census in respect of the period during which the said accommodation w

(i) the value of perquisite as determined under Table I: Sl. Nos. 1 and 2. C be increased by 10% per annum of the cost of furniture (including television sets, radio sets, refrigerators, other household appliances, air-conditioning plant or equipment), as reduced by any charges paid or payable for the same by the employee during the tax year; and (ii) if such furniture is hired from a third party, the value of perquisite would be the actual hire charges payable for the same as reduced by any cha

(a) is used wholly and exclusively in the performance of his official duties; no value, if the documents specified in sub-rule (3)(c) are maintained by the employer. no value, if the documents specified in sub-rule (3)(c) are maintained by the employer; (b) is used exclusively for the private or personal purposes of the employee or any member of his household and the running and maintenance expenses are met or reimbursed by the employer; actual amount of expenditure incurred by the employer on t

(b) Where an employer owns or hires one or more motor cars and allows the employee or any member of his household to use them for the purposes other than wholly and exclusively in the performance of his duties, the value of perquisite shall be the amount calculated as below: (i) for one car, in accordance with Table II: Sl. No. (1)(c)(i); and

(ii) for other cars, in accordance with Table II: Sl. No. (1)(b). (c) If the employer or employee claims that the motor vehicle is used solely for official duties or that the actual expenses for running and maintaining the employee-owned motor vehicle for official purposes exceed the deductible amounts in Table II: Sl. No. 2(b) or 3(b), he may claim a higher amount for official use and in this case, the value of the perquisite shall be the actual amount of expenses paid or reimbursed by the empl

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