Director car as perquisite
This query is : Resolved
02 February 2024
sir
i have two questions
For a Director of a Pvt Ltd Co.The company takes a car loan for the Director.It is used for both official purposes.The EMI is paid by the company.Is the interest paid by the company considered a perquisite for the Director?If so what are the income tax implications
Do u have any site or reading material where it is possible to understand which are treated as taxable perquistes as per the IT act.
thanks and Regards
i have two questions
For a Director of a Pvt Ltd Co.The company takes a car loan for the Director.It is used for both official purposes.The EMI is paid by the company.Is the interest paid by the company considered a perquisite for the Director?If so what are the income tax implications
Do u have any site or reading material where it is possible to understand which are treated as taxable perquistes as per the IT act.
thanks and Regards
02 February 2024
Monthly perquisite to be considered leaving interest and instalment payment.
See the link.
https://www.google.com/url?sa=t&source=web&rct=j&opi=89978449&url=https://groww.in/p/tax/taxability-of-perquisites%23:~:text%3DThe%2520taxable%2520category%2520of%2520perquisites,gifts%2520worth%2520more%2520than%2520Rs.&ved=2ahUKEwj7ze742ouEAxVO-DgGHSILCzoQFnoECBIQBQ&usg=AOvVaw2-_RXq8qZPDvPMw6P7W5nb
See the link.
https://www.google.com/url?sa=t&source=web&rct=j&opi=89978449&url=https://groww.in/p/tax/taxability-of-perquisites%23:~:text%3DThe%2520taxable%2520category%2520of%2520perquisites,gifts%2520worth%2520more%2520than%2520Rs.&ved=2ahUKEwj7ze742ouEAxVO-DgGHSILCzoQFnoECBIQBQ&usg=AOvVaw2-_RXq8qZPDvPMw6P7W5nb
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- ADVANCE PAYMENT OF ADVOCATE
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Eway bill generation from place other than registeted
- TDS Return Q1 FY 2026-27
- Condonation . E-Verification of last year return .
- UNWANTED CREDIT BALANCE OF GST AS PER BOOKS
- GST rate and HSN code for sale of racing horses
- Query – TDS on purchase of land from NRI under Income-tax Act, 2025
- DIN reactivation
- REGARDING ANNUAL RETURNS FILLINGS OF A COMPANY INCORPORATED ON 28.03.2025
- TDS on Consultancy- Non DTAA
- Management System (IMS)
- Depreciation of fixed assets- coop housing society in mumbai
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
