Sale of old computers and perk
This query is : Resolved
sayali patil
(Querist)
22 August 2011
Our company wish to discard the old computers. The book value as per companies act as on date is only 5% of the book value.
If company wish to sale these computers to the employees at the same rate at which it would have sold it to the vendor then whether employee it would amout to perk in the hands of employees?
If yes then what will be the perk value taxable in the hands of employees?
If company wish to sale these computers to the employees at the same rate at which it would have sold it to the vendor then whether employee it would amout to perk in the hands of employees?
If yes then what will be the perk value taxable in the hands of employees?
CA PARAS BAFNA
(Expert)
22 August 2011
There will be no perk in the hands of employee.
The Income Tax Rules Prescribes
50% of Depreciation Rate by reducing Method.
Naturally WDV as per IT will be quite lower than as per C Law.
The Income Tax Rules Prescribes
50% of Depreciation Rate by reducing Method.
Naturally WDV as per IT will be quite lower than as per C Law.
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
- Query on effect of registration of property
- Visiting card purchase
- GST on reimbursement of expenses
- Due date for filing return for the partner in partnership subjected to Tax Audit
- Number of years as per AS amortisation of Goodwill
- Equity Share Sale and Purchase
- Additional trade name
- Goodwill transfer of deceased father’s firm – ICAI applying a 27.04.2026 cut-off to the 3 year limit
- Whether output tax is taken credit by purchaser
- Wrong CMPo8 file
- Classification of income of P Ltd company as business or profession
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
- How to get money back from delisted company
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
