Which item is excluded from 'salary' when valuing a rent concession?
ACommission earned
BBasic pay received
CEmployer's PF share
DBonus received
Answer & Solution
Correct answer: C. Employer's PF share
The employer's contribution to the employee's provident fund account is specifically left out of salary for this valuation.
Keep practising Salaries
Browse all Salaries questions for CA Inter, or explore more Taxation topics.
Related questions
Life insurance maturity sums are exempt except those received under which policy?Exempt travel concession from an employer for leave journeys covers places:HRA exemption fails if the employee has not actually:HRA exemption does not apply where the residence occupied by the employee is:House rent allowance is exempt only to meet expenditure actually incurred on:A payment from an approved superannuation fund on the death of a beneficiary is:With employer contribution also present, interest on employee PF deposits above what yearlAccumulated balance of a recognised provident fund is exempt as provided in which rule?