Perquisites
This query is : Resolved
04 February 2010
A car (1800cc) is owned by the employer (cost of the car being Rs.4,80,000). X, an
employee, can use it partly for official purposes and partly for private purposes.
Expenses are, however, incurred by X. During the previous year 2009-10 the total
expenditure incurred by X is Rs. 50,000 on car and Rs. 20,000 on driver. what wil be the taxable perquisites in salary.??
employee, can use it partly for official purposes and partly for private purposes.
Expenses are, however, incurred by X. During the previous year 2009-10 the total
expenditure incurred by X is Rs. 50,000 on car and Rs. 20,000 on driver. what wil be the taxable perquisites in salary.??
05 February 2010
Hi Geet, as the car is owned by the employer but the expenses are met by the employee, the perquisite value will be calculated as under :
for car 600*12 7,200
for driver(not provided by the employer) Nil
Perquisite value of the car 7,200
Nothing is deductible in respect of amount recovered from the employee.
Regards, CA Shakuntala Chhangani
for car 600*12 7,200
for driver(not provided by the employer) Nil
Perquisite value of the car 7,200
Nothing is deductible in respect of amount recovered from the employee.
Regards, CA Shakuntala Chhangani
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
- GSTR-1A How to update Invoice
- Excess salary payment.
- Capital gain from sale of house property
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- TDS on Purchase of Immovable Property by NRI from NRI
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- Stamp Paper for partnership firm change new income tax 2025
- SFT Cash Deposit in Current Account
- Value of property in capital gain
- FORM 26A APPLICABILITY
- TDS APPLICABILITY......
- Copyright software
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
