Prequisites value of transfer assets (car) to employee
This query is : Resolved
22 May 2012
Hi,
is it mandotary to add Prequisites value in Employee taxabe salary, if company sold car to Employee (if Yes)
How we calculate ?
Thanks
padam
is it mandotary to add Prequisites value in Employee taxabe salary, if company sold car to Employee (if Yes)
How we calculate ?
Thanks
padam
22 May 2012
Yes Padam,
The difference between WDV of the car and the sale consideration shall be taxable as perquisite for the employee. WDV of the car shall be calculated after providing depreciation @ 20% p.a. on WDV method. Depreciation should be calculated only for completed years of usage.
The difference between WDV of the car and the sale consideration shall be taxable as perquisite for the employee. WDV of the car shall be calculated after providing depreciation @ 20% p.a. on WDV method. Depreciation should be calculated only for completed years of usage.
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