The government has exempted people with an annual taxable salary not exceeding Rs 1 lakh from the purview of perquisite taxation.
Free travel passes of railway and airline employees have also been excluded from being taxed as perks.
A release issued by the Central Board of Direct Taxes Wednesday, however, says that the perks will be exempted only if they are not paid in the form of cash and it will be applicable only for the financial year 2001-02 as of now. Todays
