New Valuation Rules for Rent Free Accommodation

Applicable from 01-09-2023

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New Valuation Rules for Rent Free Accommodation

W.e.f. 01-09-2023, in the case of non-Govt employees, the following rule of valuation is applicable

Key changes

Population as per 2011 census (earlier 2001 census) shall be considered
The population threshold is increased from 25 lakhs+ to 40 lakhs+ (similarly in other categories)
% of salary to be taken for valuation is reduced

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CA | Author | Faculty | Tax Point India