Perquisite of Car
This query is : Resolved
Meenakshi Sundaram
(Querist)
27 October 2009
After abolition of FBT, car reimbursement is taxable in hands of employee ccording to Rule 3 .
If the car was taken on Lease by employee and expenses are met by employee claimed as perquisite. Will it be taxable under Rule 3? (Assume the car is used for personal purposes)
If the car was taken on Lease by employee and expenses are met by employee claimed as perquisite. Will it be taxable under Rule 3? (Assume the car is used for personal purposes)
CA SANJAY MUKHERJEE
(Expert)
27 October 2009
Yes
Yes assuming expenses are met by employee and reimbursed by the company ( lease rent+expenses)
If expenses met by employee and not reimbursed by employer then only lease rent will be perquite.
Yes assuming expenses are met by employee and reimbursed by the company ( lease rent+expenses)
If expenses met by employee and not reimbursed by employer then only lease rent will be perquite.
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