(d) Value of perquisites specified in sub-section (2) of Section 17 of the Income Tax Act.
(e) any payment or expenditure specifically excluded/under proviso to sub-clause
(iii) of clause (2) or proviso to clause (2) of Section 17.
As per the Finance (No. 2) Act, 2004, the contribution made by the Central Government in the previous year to the account of an employee under the pension scheme in terms of Section 8OCCD would be added to the total salary income of the employee and tax deductible up to 10% of salary.
As per the Finance (No. 2) Act,. 2009 the value of ESOPS and superannuation contribution in excess of Rs. 1 lakh per annum would be added as a perquisite in the salary of the employee. It is further provided that the value of any other fringe benefit as may be prescribed would be treated as a perquisite in the hands of an employee.