Valuation of perquisite in respect of Motor Car
This query is : Resolved
26 August 2010
Please help me to provide a note on valuation of perquisite in respect of Motor cars - reimbursement of Petrol and Driver salary. Also I would like to know other non taxable reimbursement head of expenses
Aditya Maheshwari
(Expert)
26 August 2010
Usage Purpose
Perk Value
I. If Motor Car is Owned by employer & running and maintenance expenses are incurred
or reimbursed by Employer
Official purposes only
No perquisite, if specified conditions satisfied.
Private purposes only
Actual expense incurred by employer
Add: 10% p.a of Actual Cost of Car or Hire charges of Car
Add: Salary to Driver
Less: amount recovered from employee
Partly Official & partly Private purposes.
Upto 1600CC : Rs 1,800 p.m
Above 1600CC : Rs. 2,400 p.m
Add: If driver provided : Rs.900 p.m
Less: amount recovered from employee
II. If Motor Car is Owned by employee & running and maintenance expenses are incurred or reimbursed by Employer
Official purposes only
No perquisite, if specified conditions satisfied.
Private purposes only
Actual expense incurred by employer as
Less : Amount recovered from employee.
Partly Official & partly Private purposes
Actual expense incurred by employer
Less: amount recovered from employee
Less: Upto 1600CC : Rs. 1,800 p.m
Above 1600CC : Rs. 2,400 p.m
Less: If driver provided : Rs.900 p.m
III. If Motor Car is Owned by employer & running and maintenance expenses are incurred by Employee
Official purposes only
No perquisite, if specified conditions satisfied.
Private purposes only
10% p.a of Actual Cost of Car or Hire charges of Car
Add: Salary to Driver (if paid by employer)
Less: amount recovered from employee
Partly Official & partly Private purposes.
Upto 1600CC : Rs 600 p.m
Above 1600CC : Rs 900 p.m
Add: If driver provided : Rs.900 p.m
Less: amount recovered from employee
IV. If Any other Automotive Conveyance is Owned by employee & running and maintenance expenses are incurred or reimbursed by Employer
Official purposes
only No perquisite, if specified conditions satisfied.
Partly Official & partly Private purposes.
Actual expenditure incurred by employer
Less: amount recovered from employee
Less: Amount for Official use Rs.900 p.m
Perk Value
I. If Motor Car is Owned by employer & running and maintenance expenses are incurred
or reimbursed by Employer
Official purposes only
No perquisite, if specified conditions satisfied.
Private purposes only
Actual expense incurred by employer
Add: 10% p.a of Actual Cost of Car or Hire charges of Car
Add: Salary to Driver
Less: amount recovered from employee
Partly Official & partly Private purposes.
Upto 1600CC : Rs 1,800 p.m
Above 1600CC : Rs. 2,400 p.m
Add: If driver provided : Rs.900 p.m
Less: amount recovered from employee
II. If Motor Car is Owned by employee & running and maintenance expenses are incurred or reimbursed by Employer
Official purposes only
No perquisite, if specified conditions satisfied.
Private purposes only
Actual expense incurred by employer as
Less : Amount recovered from employee.
Partly Official & partly Private purposes
Actual expense incurred by employer
Less: amount recovered from employee
Less: Upto 1600CC : Rs. 1,800 p.m
Above 1600CC : Rs. 2,400 p.m
Less: If driver provided : Rs.900 p.m
III. If Motor Car is Owned by employer & running and maintenance expenses are incurred by Employee
Official purposes only
No perquisite, if specified conditions satisfied.
Private purposes only
10% p.a of Actual Cost of Car or Hire charges of Car
Add: Salary to Driver (if paid by employer)
Less: amount recovered from employee
Partly Official & partly Private purposes.
Upto 1600CC : Rs 600 p.m
Above 1600CC : Rs 900 p.m
Add: If driver provided : Rs.900 p.m
Less: amount recovered from employee
IV. If Any other Automotive Conveyance is Owned by employee & running and maintenance expenses are incurred or reimbursed by Employer
Official purposes
only No perquisite, if specified conditions satisfied.
Partly Official & partly Private purposes.
Actual expenditure incurred by employer
Less: amount recovered from employee
Less: Amount for Official use Rs.900 p.m
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