In my Company, an employee having a car not owned by himself. It is owned by his friend. He is using that car wholly and exclusively for official purpose. Company reimburse maintenance, chauffeur and petrol expenses.
03 July 2012
As per the new Rule 3, perquisite value shall be nil in case the car (whether owned by employer or not)is used wholly and exclusively for official duties, subject to the following: - the employer has maintained complete details of journey undertaken for official purpose which may include date of journey, destination, mileage, and the amount of expenditure incurred thereon; and - the employer gives a certificate to the effect that the expenditure was incurred wholly and exclusively for the performance of official duties.
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