Salary Rules Change: Rules related to your salary will change from September 1, know everything

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Changes in salary rules: If you also do a job, then this big news is for you. If you have got or are getting a house from the company and you are not paying the rent then there is good news for you. CBDT has given relief in the rules related to valuation. Let’s know in points.

CBDT has reduced the limit of perquisite assessment. This means that now there will be less tax deduction in the salary received from office instead of home. That means more salary will come in your hand. This rule is being implemented from next month i.e. September itself.
First of all, understand what are the rules regarding tax. In fact, many big companies provide accommodation to their employees and do not charge rent in return. This is included in perquisite under Income Tax rules. In Perquisite, the employee does not have to pay rent, but his tax liability is created.
Perquisite value is fixed for tax, which is a part of salary. This share may be based on the population of the place where the house is situated.
Valuation tax is added to the salary. This means that even though you are not paying rent, it increases your income tax calculation.
Now the limit of this part has been reduced by CBDT. This means that in exchange for a rent-free house, his valuation will increase in salary, but its limit will be less than before.
According to the notification, if the employees of the Central and State Government as well as employees working in any other organization have received accommodation from the company, which is owned by the company, then the assessment will be as follows.
more money in hand

With this decision, the people living in the houses given by the companies will get a big relief. Lowering the assessment limit will reduce the taxable income and hence the tax liability. It simply means that more money will come in the hands of the people.

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