Yes friends, there was a discussion about requisites and we
had already discussed about cars.
Now friends, I want to discuss one more common thing with
you.
Listen carefully to my point.
Friends, suppose there is an employer who has taken out a
vacancy here that I am very busy and I need a secretary.
So I took out a vacancy in the newspaper.
Many people applied but the employer didn't know whom to
hire and whom not to hire.
After many days, a lady came whose name was Ms. Chandni.
Seeing Ms.
Chandni's face, the employer felt something was wrong and
he said,
Madam, from today onwards you will be my secretary.
You will come to work from tomorrow and this will be your
salary for the month.
So the lady said, I will come to work.
There is no problem with that.
Mr. Vinod, his name was Vinod.
I said, Mr. Vinod, there is no problem.
But the problem is that I don't have a house in this city.
I am homeless.
Take me to your house.
Mr. Vinod said, what is this?
He said, the problem is that I have come from Ahmedabad and
you have an office in Delhi.
So where should I go?
So the employer said, Madam, this was the employer and this
was the employee if you can see.
So the employer said, I will stand in front of the employer.
The employer said, Chandni, I will give you an
accommodation.
It is the company's flat.
You stay in the company's flat.
And I will deduct some money from your salary.
So Ms. Chandni said, Sir, thank you very much.
So Mr. Vinod said, here is the key to your flat.
Here is the key to your flat.
So he said, Sir, thank you very much.
And in this way, their friendship grew stronger.
And he gave them a rent-free accommodation.
Rent-free accommodation means, friends, he gave his
employee a flat or a house to stay in.
So tell me one thing, the first question that I ask every
time, and I will keep asking, the answer to which I know is
running in your veins.
Can the employer give his employee accommodation to stay in?
The answer is, yes.
Okay.
Now we have to see how much is taxable and how much is
exempt.
It is a simple thing.
We have to find out its value.
What is the actual value of that house?
The value of that house, if any recovery is done by the
employee, it will be deducted.
It is a simple motor logic.
Like we used to do in the case of cars, we used to take the
value of the car.
And we used to deduct something.
We have to do the same here too.
Now there are two categories of employee.
I mean employer.
Employee can be of two types, either government or private.
Sir, suppose if you are a government employee, let me
explain this on paper.
Sir, if you are a government employee,
Why is it opening again and again?
Sir, if you are a government employee, suppose Mr.
Vinod is a government employee, then what will happen in
the case of a government employee?
It is a simple thing.
You have to see the license fees of that house.
And if you recover something from your employee, rent
recovered, it is a simple thing.
In that case, you have to deduct it.
And this final figure, what will be in the hands of the
employee?
Taxable.
What will be in the hands of the employee?
This figure will be in the hands of the employee.
Taxable.
The license fees will be deducted.
If you recover the rent, you have to deduct it.
And you will get a taxable figure.
Whom are we talking about?
We are talking about a person who is a government employee.
Come to the second case.
Suppose the second case is that the person is a private
employee.
He is in a private setup.
He is a citizen of India.
What will happen in that case?
If the person is a private employee, what will happen in
that case?
This is a private setup.
There can be two cases in a private setup.
The owner is giving you a house to live in.
Either he has that house.
Or he has rented it from someone.
And he is giving you that house to live in.
There can be two cases.
He has his own house.
Or he has rented it from someone.
Now let's talk about for example, he has his own house.
There can be three cases in this.
Depending upon the city.
Which city you are in.
Suppose there is a city whose population is above 25 lakhs.
We will discuss the case of that city.
Whose population is between 10 lakhs to 25 lakhs.
We will discuss the case of that city.
And the rest will be others.
The meaning of others is whose population is less than 10
lakhs.
Private employee.
Private employer.
The house can be his own.
Or he has rented it from someone.
And has given it to his employee to live in.
So in that case, what will happen?
Here you have to take 15% of the salary.
15% of salary.
Minus the rent which he has recovered from his employee.
As they say, we will deduct 3000-4000 rupees from your
salary every month.
The locality in which we have given you the house to live
in.
The actual rent there is very expensive.
But we are giving it to you for 3000 rupees.
It's a simple thing.
You are giving him a benefit of 22,000.
If the rent is of 25,000.
And you are getting it for 3000.
It's a benefit.
It's a simple thing.
15% of the salary minus the rent which you have recovered
from your employee.
The rest will be taxable in hands.
Of whose?
Of your employee.
It will be taxable in the hands of the employee.
The money which has been paid as rent, minus it.
It's a simple thing.
If here it is 15%, here 10%.
And here 7.5%.
And what to do with the minus?
The rent which your employee has paid.
Sir, why am I reducing the rent which I have paid?
It's a simple thing.
If I have got a benefit of 1 lakh.
But I have also spent 10,000 rupees for it.
I have already given 10,000 rupees.
So, I have taken a benefit of 90,000 rupees only.
I have not taken a benefit of 1 lakh.
I have also spent 10,000 rupees.
I have also given this rent to my employer.
Though I have given less.
So, whatever is given, minus it.
The benefit is taxable in your hands.
It will be done.
It's a simple thing.
Look at it.
Any problem?
Sir, shall we come to the second case?
What is the second case?
The second case is that your employer has a house owned by
the employer.
Owned.
Owned by the employer.
The employer has bought the house.
And he has given his house to his employee to stay.
Like Mr. Vinod Khanna had given in that image.
Now, come to the second case.
What can be the second case?
The employer does not have a house.
But he has been so influenced by his secretary that he is
still giving his house to him to stay.
He is giving his house to his employee on rent to stay at a
very low price.
Friends, this is called true love.
So, what does the employer have?
He does not have.
He has taken it on rent.
So, in that case, what he has to do is that 15% of the
salary
or or the higher charges that he is giving whatever will be
less out of both that minus the rent that he has recovered
from that.
So, what will be left in the hands of the employee?
This will become taxable for you.
Good question.
Sir, house is a very important thing in life.
Employee leaves his house and goes somewhere else to work,
ask his heart.
He says that if it was evening, he would have gone to his
house, would have stayed in someone's eyes and would have
become his star and gone to work.
Goodbye.
This will be very useful in your practical life.
You will also be somewhere in the job market.
Your company may give you accommodation.
So you will have to see that if you are getting
accommodation, then what is taxable in your hands?
Forget about friends, these are things for your own benefit.
You should know all these things.
And nothing is too tough.
15% of salary or higher charges, minus the money that you
have recovered from the employee.
This is taxable in the hands of the employee.
In that case,
Mr. Vinod Khanna was kind to Ms. Chandni.
And he said,
Chandni, apart from the house,
I will also give you TV, fridge and furniture.
So what do you have to do with the TV, fridge and furniture?
You don't have to do anything.
We had discussed this earlier.
You have to add 10% of the cost.
You don't have to do anything.
The company has given a fully furnished flat for the boy.
What does fully furnished mean?
They have given a flat, furniture, TV and fridge.
In that case, we are taking what we are taking.
Add 10% of the cost of the asset.
Furniture or 10%.
Whatever the furniture is, add 10% of that.
And in the minus, you see that he is also not recovering
any money.
If he is also recovering money, minus that too.
And this portion will be taxable.
See.
Any problem?
This is the point.
It is a simple point.
Sir, this is it.
Thank you very much.
Thank you.