Perquisites

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

08 June 2011 Dear Sir,

In case of car perquisite valuation, if the car is owned by employee and used wholly for official purpose, there is no perquisite.

Now, if I incur say Rs. 50000/- during the month on petrol & maintenance and company pays me Rs.36000/- as petrol and maintenance allowance and my usage of car for company purpose (in terms of value in kms calculated at average rate) is Rs. 40000/-, can I say that I have used company car fully for official purpose since, my expenses on car used for company purpose has exceeeded my allowance received from company.

Kindly advise at the earliest.