India - Income Tax Act 2010 - Saarc

1.147 CH. IV - COMPUTATION OF TOTAL INCOME FROM SALARIES S. 17(2)(Contd. from p. 1.146)(i) the accommodation is owned by the employer, thevalue of the accommodation determined at the specifiedrate in respect of the period during which the saidaccommodation was occupied by the assessee duringthe previous year, exceeds the rent recoverable from,or payable by, the assessee;(ii) the accommodation is taken on lease or rent by theemployer, the value of the accommodation being theactual amount of lease rental paid or payable by theemployer or fifteen per cent of salary, whichever islower, in respect of the period during which the saidaccommodation was occupied by the assessee duringthe previous year, exceeds the rent recoverable from,or payable by, the assessee;](b) in a case where a furnished accommodation is provided bythe Central Government or any State Government, thelicence fee determined by the Central Government or anyState Government in respect of the accommodation inaccordance with the rules framed by such Government asincreased by the value of furniture and fixtures in respectof the period during which the said accommodation wasoccupied by the assessee during the previous year, exceedsthe aggregate of the rent recoverable from, orpayable by, the assessee and any charges paid or payablefor the furniture and fixtures by the assessee;(c) in a case where a furnished accommodation is provided byan employer other than the Central Government or anyState Government and—(i) the accommodation is owned by the employer, thevalue of the accommodation determined undersub-clause (i) of clause (a) as increased by the valueof the furniture and fixtures in respect of the periodduring which the said accommodation was occupiedby the assessee during the previous year,exceeds the rent recoverable from, or payable by,the assessee;(ii) the accommodation is taken on lease or rent by theemployer, the value of the accommodation determinedunder sub-clause (ii) of clause (a) as in-modation was occupied by the assessee during the previous year, exceeds therent recoverable from, or payable by, the assessee;(ii) the accommodation is taken on lease or rent by the employer, the value of theaccommodation being the actual amount of lease rental paid or payable bythe employer or ten per cent of salary, whichever is lower, in respect of theperiod during which the said accommodation was occupied by the assesseeduring the previous year, exceeds the rent recoverable from, or payable by,the assessee;”