Dear All!
Please tell me whether in the instant case the value will be called as a perqusite.
The company has taken a car on hire and provided the same to the employee. The company monthly pays car hiring charges amounting to RS.12,500/-. Also, the company reimburses the employee for the drivers salary paid. (say Rs.5,000/- every month)
Will this transaction be called as perquisite? If yes, will the answer differ if the car is used for both official and personal purpose.
If it is a perquisite, what will be the value of the perquisite.
CAclubindia
