Car given to employee to use, is it perquisite?
Querist : Anonymous
One of my client purchase a car for his employee against its Flexi fund(as per their internal policy)
So car is booked in the books of companies account as purchased on the name of company. and employee enjoys the car for its personal use.
so in that case, expenses related to car is reimbursed by the company e.g petrol expenses and insurance is also reimbursed.
So insurance and petrol expenses are perquisites?
and is it liable to tax in hands of employee if it is perquisite.?
Querist : Anonymous
Querist : Anonymous
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