prescriced fringe benefits

This query is : Resolved

janak (Querist)
Follow

13 September 2009 a employee who is given a car by his employer {1.4 litre cc} .
if nothing is mentioned in qs.
whether car is used 4 office or private use by employee?
what shall we assume while calculating taxable value of car in hand of employee?

CA.Tarun Maheshwari

CA.Tarun Maheshwari (Expert)
Follow

13 September 2009 If you are asking for Exam purpose, then you should answer it from both the angles. Official as well as personal purpose. You should clearly mention your assumption while solving the answer, and give other option in notes. By this way, you shall be able to get full marks

janak

janak (Querist)
Follow

13 September 2009 can we assume one from following :
1)car is used for official purpose or
2)car is used for private purpose or
3)car is partially official and private purpose ?
if we take any one & write notes for remaining two , thn we'll get full marks or not ?

CA.Tarun Maheshwari

CA.Tarun Maheshwari (Expert)
Follow

14 September 2009 It depends on the rest of the question. Sometimes it may have to be drawn from the question, what it wants to exactly know from us. But yes, if you have assumed correctly and have given the notes for other two alternatives, then u are entitled to full marks. But what they give, depends on them. :-). They are the God almighty for us. Hope u get what I want to say.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

GOVIND VAJIRAJ DESAI

Ramulu Thakkalapally

RAVINDRA JOSHI

cgagroshg cgagroshg

velichety.l.narasimharao

Subscribe Now

prescriced fringe benefits

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

CA Final

Manager- Finance and Compliance

Senior Executive

GST CONSULTANCY

GST CONSULTANT

Accountant