Tag: income tax department

In a move that will positively impact employees with substantial salaries and employer-provided rent-free housing, the income tax department has announced revisions to the valuation norms for such accommodations. According to a PTI report, the new changes will come into effect from September 1, and will likely increase take-home salaries for eligible employees.The Central Board of Direct Taxes (CBDT) has notified the amendments to the Income Tax Rules, bringing about these changes. The modifications concern the valuation of unfurnished accommodations that are owned by employers and offered to...