Car perks

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

30 July 2017 Dear Expert,
if one received Rs 25000 as car perks, and nothing recovered from the employee, then what is the taxable value of perks , a car which is owned by employee and he spend near about 50000 rs in a year on petrol to go to office.
is his 25000 value of perks is fully taxable ? he did not get any deduction of petrol cost he expend?

CA Rashmi Gandhi

CA Rashmi Gandhi (Expert)
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30 July 2017 Total of Rs.25000/- is taxable.

CA Rashmi Gandhi

CA Rashmi Gandhi (Expert)
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30 July 2017 Who pay car perks.

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vaibhav singhi

vaibhav singhi (Expert)
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30 July 2017 by car perks u mean office car being given to you i guess if car is used solely for office use no tax if used for personal then 25000

vaibhav singhi

vaibhav singhi (Expert)
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30 July 2017 if used for both then depends on car capacity

Querist : Anonymous

Querist : Anonymous (Querist)

30 July 2017 Car perks given by employer and include in value of perks so taxable income increase.
Car is fully owned by employee and use for both office and private purpose.
My main query is that whether he is entitle for any rebate of petrol exp or not...as employer not recovered any amount from employee..he just pay rs 25000 as perks...

CA Rashmi Gandhi

CA Rashmi Gandhi (Expert)
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30 July 2017 Not entitle to any rebate,

Car facility taxable at amount equal to 15%/10%/7.5% of salary depends on population of city you resides.