New Perquisites rules for Valuation.....

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