Gajendra is working as a Sales Manager of Bansal Green Pvt. Ltd. He furnishes the following particulars of his remuneration for the previous year 2023-24: S. No. Particulars Amount (₹) 1. Basic Salary 65,000 p.m. 2. Dear

Computation of Taxable value of Rent-free concessional accommodation facility for A.Y. 2024-25 S. No. Particulars Amount (₹) (i) 15% of income from Salary (for first 5 month) (₹9,48,000/12 * 5 * 15%) 59,250 (ii) 10% of Income from Salary (for next 7 month) (w.e.f. 1-9-2023, value of house facility is 10% of salary, if accommodation provided in city having population exceed 40 lacs) (₹9,48,000/12 * 7 * 10%) 55,300 Total Value 1,14,550 Add: 10% of cost of furniture (₹1,50,000 x 10%) 15,000 Add: Hire charge of A.C (₹7,500 x 3) 22,500 Total Value of Rent-free concessional house facility 1,52,050 Less: Amount paid by Employee (₹7,000 x 12) (84,000) Taxable value of Rent-Free house facility 68,050 Working Note: Meaning of Salary for Rent Accommodation Facility Particulars Amount (₹) Basic Salary (₹65,000 x 12) 7,80,000 Add: D.A. (part of retirement benefit) (₹15,000 x 12 x 40%) 72,000 Add: Medical Allowance (fully taxable) (₹5,000 x 12) 60,000 Add: Children Education Allowance (₹1,600 x 2 x 12) ₹38,400 Less: Exempt (₹100 x 2 x 12) ₹2,400 36,000 Salary for the purpose of Rent-Free Accommodation 9,48,000