Tag: Tax

The CBDT has amended the valuation rules for accommodation perquisite, effective September 1, 2023. The key changes are: Lower perquisite rates and revised city categorization. Introduction of Cost Inflation Index (CII) to cap the perquisite valuation for subsequent years. Change in plinth area and definition of remote work: Temporary accommodation provided to employees at select sites will not be taxable as a perquisite if it meets certain conditions. The amendments are expected to benefit employees, especially those working in remote areas.