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What is Perquisite and how it is taxed?

April 26, 2017perquisite TAXED

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What is Perquisite and how it is taxed?

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Perquisites are emoluments or benefits received from an employer, in addition to salary, bonus, allowances, gratuity, etc. They include rent-free accommodation, free electricity, gas, or water supply, free domestic servant, etc. provided / paid for by the employer. These perquisites are added to the Salary Income for arriving at the tax liability as per the applicable slabs.