Value of Perquisites u/s 172 Calculation
Understanding the value of perquisites u/s 172 is crucial for tax planning and compliance in India. This calculator helps you determine the taxable value of perquisites received by an employee.
- Enter the employee’s salary and the value of perquisites received.
- Click ‘Calculate’ to determine the taxable value of perquisites.
The taxable value of perquisites is calculated as follows:
Taxable Value = Perquisites Value - (Perquisites Value * (100 - Tax Slab) / 100)
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- Always consult with a tax professional for personalized advice.
- Keep records of all perquisites received for future reference.
What are perquisites?
Perquisites are benefits or amenities provided by an employer to an employee over and above the salary.
Income Tax Department, Inland Revenue Authority of Singapore