Perquisites & Salary Deductions
Index : Income from Head Salary. Definition. Valuation and Taxation of Perquisites. Deductions under Salary There is no definition of perquisite as such as per Sec 2 of the Income Tax Act, 1961 however Sec 17(2) provides inclusive definition of perquisites As per Sec 17(2) perquisites includes:- (i) The value of rent-free accommodation provided to…