15% of salary or rent paid by employer, whichever is less 30.000 Add: 10% of cost of furniture (10% of 30,000) 3.000 Value of rent free house 33.000 Less Rent paid by the employee 1.000 p.m. 12.000 Value of Concessional accommodation 21.000 Reduced to 9 months = 121.000 x 9/12) 15.750 ILLUSTRATION 19 3 Mr. BP Yadav was serving as Chicl Accountant in a private sector company at Kolkata [Population more than 25 lakhs). He was staying in a house provided to him free by the company and the fair rental value of the same was 5,000 p.m. His salary particulars are as follows: Salary 16.000 pm D.A. Education allowance (2 children) Conveyance allowance Mr. Yadav spends 500/- p.m. towards conveyance for official duties, Re was also doing over time work for which he was getting a salary of 1,000 p.m. On 1-10-2014 Government of India took over the company but he continued to stay in the house and drew the same salary and allowances. On 28th February 2015 he resigned from the company and joined a private company on 1-3-2015 which gave him a rent-free house. The fair rental value of the wame is 5,000 p.m. The company gave him a gross salary of 22.000 p.ID Determine the perquisite value of residential house occupied by Mr. Yadav In all the above cases salary was due on the last date of month. 400 pm 400 p. 600 pm 165 3