CBDT Notifies Rule For Determination Of Value Of Perquisite In Respect Of Residential Accommodation Provided By Employer

The Central Board of Direct Taxes (CBDT) has introduced an amendment to the Income Tax Rules, 1962, relating to the valuation of perquisites for residential accommodation provided by employers. The amendment, effective from September 1, 2023, brings changes to the categorization and limits of cities and populations, along with revised perquisite rates based on the 2011 census.The...