Income Tax Rules Revised for Employee Perks; Thresholds Increased

The government changed the rules for how employee perks (extra benefits beyond salary) are taxed.

Previously, employees with a salary above Rs 50,000 were subject to different tax rules on perks.

Now, the threshold is Rs 4 lakh, meaning those earning less than that won't face such taxation.

Also, if employees or their families get medical treatment overseas, the amount spent won't be taxed if the employee's income is less than Rs 8 lakh.

These changes help make the rules simpler and fairer, especially for those with lower to middle incomes, by reducing the tax burden and clarifying what perks are taxed and how.