Director car as perquisite
This query is : Resolved
02 February 2024
sir
i have two questions
For a Director of a Pvt Ltd Co.The company takes a car loan for the Director.It is used for both official purposes.The EMI is paid by the company.Is the interest paid by the company considered a perquisite for the Director?If so what are the income tax implications
Do u have any site or reading material where it is possible to understand which are treated as taxable perquistes as per the IT act.
thanks and Regards
i have two questions
For a Director of a Pvt Ltd Co.The company takes a car loan for the Director.It is used for both official purposes.The EMI is paid by the company.Is the interest paid by the company considered a perquisite for the Director?If so what are the income tax implications
Do u have any site or reading material where it is possible to understand which are treated as taxable perquistes as per the IT act.
thanks and Regards
02 February 2024
Monthly perquisite to be considered leaving interest and instalment payment.
See the link.
https://www.google.com/url?sa=t&source=web&rct=j&opi=89978449&url=https://groww.in/p/tax/taxability-of-perquisites%23:~:text%3DThe%2520taxable%2520category%2520of%2520perquisites,gifts%2520worth%2520more%2520than%2520Rs.&ved=2ahUKEwj7ze742ouEAxVO-DgGHSILCzoQFnoECBIQBQ&usg=AOvVaw2-_RXq8qZPDvPMw6P7W5nb
See the link.
https://www.google.com/url?sa=t&source=web&rct=j&opi=89978449&url=https://groww.in/p/tax/taxability-of-perquisites%23:~:text%3DThe%2520taxable%2520category%2520of%2520perquisites,gifts%2520worth%2520more%2520than%2520Rs.&ved=2ahUKEwj7ze742ouEAxVO-DgGHSILCzoQFnoECBIQBQ&usg=AOvVaw2-_RXq8qZPDvPMw6P7W5nb
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- ITC temporary reversal and reclaim
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- TDS U/S. 194NF
- GST on export of services and Input Credit
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- Applicable TDS rate for sale of property in Nov 2024
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- Import license renewal
- Inventory of finished goods
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding einvoice taken on nil rated sales
Trending Online Classes
CAclubindia
