Our company provide car to the senior employees. 25% of the amount of the car is paid by the employee in equal instalments in 4 years and the remaining is paid by the Company.
for this the company enters into a car agreement with the employee. Till date the agreement is executed on Rs 100/- stamp paper irrespective of the value of the car, no other extra stamp duty is paid.
Please suggest as to whether more stamp duty is to be paid and any other changes is required in this regard.
Ok, so i guess it is sort of indemnity which co. is getting signed from employee wrt to terms & condition of car usage, so agreement on 100 rupees stamp paper is sufficient to bind employee.
CAclubindia
