Dear Sir,
1. Is it possible for an employee of a company to lease out his car to the company ? (The company will provide loan to him?). should there be a seperate agreement with the employee ? what should be the mode of agreement ?
2. what will be the tax implication or otherwise? (i.e. perquisite value )
3. Will the entries be the same as is generally done for leasing transaction?.
4. Lease Rental will be allowed in the books of the company.
Dear Sir,
This thread relates to a similar discussion-
Dear Sir,
I got your answer for the tax implication from the above . but i need to know the answer to the below mentioned point of mine :
1. Is it possible for an employee of a company to lease out his car ( purchased by him through loan provided by the company) to the company ?
2. Ownership of the car will remain with the employee.
3.Should there be a seperate agreement with the employee ? what should be the mode of agreement ?
2. Will the entries be the same as is generally done for leasing transaction?.
3. The company will pay lease rental or the like to the employee.
4. Will Lease Rental will be allowed in the books of the company.
Please reply point wise
Regards
IYER
CAclubindia
