Hi Friends,
I would like to know whether transfer of fixed assets to an employee for nil value is taxable in the hands of an employee or not
Please clarify ASAP.
vinayak hegde (accounts) (26 Points)
15 September 2009Hi Friends,
I would like to know whether transfer of fixed assets to an employee for nil value is taxable in the hands of an employee or not
Please clarify ASAP.
CA Manish K Dhoot
(CA, B. Com, NCFM, CPCM)
(5015 Points)
Replied 15 September 2009
yes it is taxable
it is preq in kind
CA Mohit Agrawal
(Chartered Accountant)
(371 Points)
Replied 15 September 2009
Yes Manish is correct
vinayak hegde
(accounts)
(26 Points)
Replied 16 September 2009
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