AMENDMENT IN RULE 3 –VALUATION OF PERQUISITES
NOTIFICATION NO. 271/2007, DATED 7-11-2007
In exercise of the powers conferred by section 295 read with sub-section (2) of section 17 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely:
1. These rules may be called the Income-tax (Fourteenth Amendment) Rules, 2007.
2. In the Income-tax Rules, 1962, in rule 3,-
(i)in sub-rule (1), for Table I, the following Table shall be substituted and shall be deemed to have been substituted with effect from the 1st day of April, 2006, namely:-