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
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