Can some body throw some light on this? Different rules for prime minister,Ministers and common citizen . If common citizen availed rent free residence and free furnishing items it will be included in the computation of his income chargeable under the head ‘perquisites ’ under section 17(2) of the Income Tax Act. For central minister availed value of rent free furnished residence (including maintenance thereof) provided to a Minister (central) under sub-section (1) of section 4 shall not be included in the computation of his income chargeable under the head ‘Salaries’ under section 15 of the Income Tax Act, 1961 mha.nic.in/pdfs/Ministers_salaries_act1952.pdf 10A. Notwithstanding anything contained in the Income Tax Act, 1961, the value of rent free furnished residence (including maintenance thereof) provided to a Minister (central) under sub-section (1) of section 4 shall not be included in the computation of his income chargeable under the head ‘Salaries’ under section 15 of the Income Tax Act, 1961.
Posted on: Mon, 12 Aug 2013 14:25:35 +0000