Taxable value of the perk shall be the amount spent by the employer to provide this type of facility to the employee or any other member of his household. The expenditure by employer shall also include membership fee and annual fee of the credit card.
Expenditure incurred by employer * * *
Less expenditure on its use for official purposes * * *
Less any amount received or recovered from the employee * * *
Taxable value of the Perk * * *