Perquisites on Sales of used Car to an Employee of the Com
This query is : Resolved
16 September 2009
They Assessee is allowing car facility to its senior employees for official use as per their internal policy .
In due course the assessee sales its Cars to Employees on WDV on the date of sale .
What will be perquites on the date of sale of car to an employee .
In due course the assessee sales its Cars to Employees on WDV on the date of sale .
What will be perquites on the date of sale of car to an employee .
16 September 2009
Step :1 Actual Cost of Motor Car
Step : 2 Less: 20% for each completed year by reducing balance.
Step :3 Sales consideration recovered from the employee
Taxable Perquisites : Step1-2-3 if positive.
Step : 2 Less: 20% for each completed year by reducing balance.
Step :3 Sales consideration recovered from the employee
Taxable Perquisites : Step1-2-3 if positive.
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