The value of benefit to the employee resulting from the provision of free or concessional educational facilities for any member of his household would be equal to the amount of expenditure incurred by the employer as per new rule 3(5).
Where an educational institution is maintained and owned by the employer, the value of perquisite would be with reference to the cost of such education in a similar institution in or near the locality. However, in such cases, no addition would be made if the cost of such education or the value of such benefit per child does not exceed 1,000 p.m. |
