13 September 2009
a employee who is given a car by his employer {1.4 litre cc} . if nothing is mentioned in qs. whether car is used 4 office or private use by employee? what shall we assume while calculating taxable value of car in hand of employee?
13 September 2009
If you are asking for Exam purpose, then you should answer it from both the angles. Official as well as personal purpose. You should clearly mention your assumption while solving the answer, and give other option in notes. By this way, you shall be able to get full marks
13 September 2009
can we assume one from following : 1)car is used for official purpose or 2)car is used for private purpose or 3)car is partially official and private purpose ? if we take any one & write notes for remaining two , thn we'll get full marks or not ?
14 September 2009
It depends on the rest of the question. Sometimes it may have to be drawn from the question, what it wants to exactly know from us. But yes, if you have assumed correctly and have given the notes for other two alternatives, then u are entitled to full marks. But what they give, depends on them. :-). They are the God almighty for us. Hope u get what I want to say.
CAclubindia
