Perquisites taxable in the Hand of Specified and Non Specified Employees.

 Perquisites taxable in the Hand of Specified and Non Specified  Employees.

            Nature of perquisite                                            Tax ability  

• Rent Free Accommodation                                                                           All

• Watch man/Gardner/Sweeper/Personal Attendant employed                         All

          By employee Reimbursed by employer 

• Watch man/Gardner/Sweeper/Personal Attendant employed                For Specified Only

           by employer

•  Gas, Electricity, Water for Household consumption and connection                All

             In name of  employee

• Gas, Electricity, Water for Household consumption and connection       For Specified Only  In name of  employer
  
  
  • Education Facilities for employee children                                             All
  • Interest Fees/Concessional rates loan                                                   All
  • ESOP under approved Scheme                                 Not taxable for any one
  • use and transfer of assets                                                                     All
   

Valuation Of perquisites specified   employee:-
Condition for specified employee (any one)

1.  Director
2. 20% or more voting right in company
3. Monetary salary exceeds Rs. 50000/- after deduction of sec.16

Non Specified Employee :-
Any Employee who doesn't fulfill any of condition of specified employee is a non specified employee