Valuation of perquisite

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Querist : Anonymous

Querist : Anonymous (Querist)

03 January 2012 what are the provision for valuation of perquisite in the hand of employer and employee if motor car is maintained by the employer and expenses is reimbursed by the employer? Is there any difference if in case of motor car reimbursement motor car allowance is given

vipul Shah

vipul Shah (Expert)
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03 January 2012 For Employer , he can claim dep and other expneses related to car.
for employee its a taxable perquisite
1) If car is owned and maintained by employer then value will be
a) iused for official - nil
b) used for personal - Maintenence cost incurred by employer + 15% dep on car
c) use partly for personal and partly for official - 1800 pm for less tnan 1600 cc car otherwise 2400pm + 900 per month for driver (any capacity)

vipul Shah

vipul Shah (Expert)
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