{"id":85,"date":"2026-02-23T10:50:17","date_gmt":"2026-02-23T05:20:17","guid":{"rendered":"https:\/\/www.khatriclasses.com\/Blog\/?p=85"},"modified":"2026-02-23T17:51:56","modified_gmt":"2026-02-23T12:21:56","slug":"tax-quiz-3","status":"publish","type":"post","link":"https:\/\/www.khatriclasses.com\/Blog\/tax-quiz-3\/","title":{"rendered":"Tax Quiz 3"},"content":{"rendered":"<p>Answer:<\/p>\n<p class=\"font-claude-response-body break-words whitespace-normal leading-[1.7]\">Section 17(2)(vi) covers perquisites <strong>as prescribed by the Board (CBDT)<\/strong>. The prescribed perquisites under Rule 3 cover:<\/p>\n<ul class=\"[li_&amp;]:mb-0 [li_&amp;]:mt-1 [li_&amp;]:gap-1 [&amp;:not(:last-child)_ul]:pb-1 [&amp;:not(:last-child)_ol]:pb-1 list-disc flex flex-col gap-1 pl-8 mb-3\">\n<li class=\"whitespace-normal break-words pl-2\">Accommodation (Rule 3(1))<\/li>\n<li class=\"whitespace-normal break-words pl-2\">Motor car (Rule 3(2))<\/li>\n<li class=\"whitespace-normal break-words pl-2\">Other movable assets (Rule 3(7))<\/li>\n<\/ul>\n<p class=\"font-claude-response-body break-words whitespace-normal leading-[1.7]\"><strong>Transfer of immovable property at concessional rate is NOT specifically prescribed under Rule 3<\/strong><\/p>\n<h2 class=\"text-text-100 mt-3 -mb-1 text-[1.125rem] font-bold\">Conclusion \u2014 Employee&#8217;s Tax Implications<\/h2>\n<p class=\"font-claude-response-body break-words whitespace-normal leading-[1.7]\"><strong>Head of Income:<\/strong> The \u20b938 lakh differential (\u20b948L stamp value \u2212 \u20b910L paid) is taxable as <strong>Salary<\/strong> under Section 17(2) as a perquisite. Section 56(2)(x) does not apply since Salary head takes precedence.<\/p>\n<p class=\"font-claude-response-body break-words whitespace-normal leading-[1.7]\"><strong>Quantum of Tax:<\/strong> \u20b938 lakh added to gross salary and taxed at applicable slab rates. Employer must deduct TDS under Section 192.<\/p>\n<p class=\"font-claude-response-body break-words whitespace-normal leading-[1.7]\"><strong>Cost of Acquisition (future sale):<\/strong> \u20b948 lakh (\u20b910L paid + \u20b938L already taxed as salary) to avoid double taxation.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Answer: Section 17(2)(vi) covers perquisites as prescribed by the Board (CBDT). The prescribed perquisites under Rule 3 cover: Accommodation (Rule<\/p>\n","protected":false},"author":1,"featured_media":86,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":["post-85","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-quiz"],"_links":{"self":[{"href":"https:\/\/www.khatriclasses.com\/Blog\/wp-json\/wp\/v2\/posts\/85","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.khatriclasses.com\/Blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.khatriclasses.com\/Blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.khatriclasses.com\/Blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.khatriclasses.com\/Blog\/wp-json\/wp\/v2\/comments?post=85"}],"version-history":[{"count":3,"href":"https:\/\/www.khatriclasses.com\/Blog\/wp-json\/wp\/v2\/posts\/85\/revisions"}],"predecessor-version":[{"id":89,"href":"https:\/\/www.khatriclasses.com\/Blog\/wp-json\/wp\/v2\/posts\/85\/revisions\/89"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.khatriclasses.com\/Blog\/wp-json\/wp\/v2\/media\/86"}],"wp:attachment":[{"href":"https:\/\/www.khatriclasses.com\/Blog\/wp-json\/wp\/v2\/media?parent=85"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.khatriclasses.com\/Blog\/wp-json\/wp\/v2\/categories?post=85"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.khatriclasses.com\/Blog\/wp-json\/wp\/v2\/tags?post=85"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}