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Calculation Of The Value Of Perquisite

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(Querist)
29 March 2010 X owns a 1400CC car, he uses it partly for business purpose and partly for the personal purpose, during the year he incurs Rs. 40,000/- towards running and maintenance of the car and Rs. 24,000 towards driver's salary. The Employer reimburse the entire amount spent by X. Calculate the value of the Perquisite which is taxable.
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
29 March 2010
Taxable Perqusites car maintenance= 40000- (12X1200)=25600
Taxable Perqusites Driver salary = 24000-(12x600)=16800
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