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:-

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