One of Employee of our co. is using Car of Co. for Both Purpose , official & personal. & all Exp are incurred by co. but for this Co. recover 10000 from employee. Car is less than 1600 cc. What is perquisited of car ?
21600 or
21600-10000= 11600
As per last years Rules no deduction was available for recovery from Employee. But in new rule it is not Clear
pls solve my query urgently
no body can answer
Dear Deepak Sir,
Recovery from Employee shall be reduced from the value of perquisite.... The same was also allowed in the earlier perquisite rules...
Yes, i am agree with Mr. Amir. If an employer recover something from the employee in respect of any perquisite the recovered amount will be reduced from the value of perquisite.
sir, as per the IT RULES,whatever the amount recovered from the employee in respect of his usage of car shall be deducted from the value of perquisite
CAclubindia
