Staff staying in rent-free houses to see higher net take-home pay

Come September, and the new amendments to the Income Tax rules as notified by the Central Board of Direct Taxes (CBDT) will come into effect. Employees who are living in rent-free accommodations provided to them by their employers will witness a rationalisation of perquisite value. As a result, their taxable salary will reduce, which will lead to an increase in their net take- home salary.