Perquisites on Sales of used Car to an Employee of the Com

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CA HANI (Querist)
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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 .

Shailesh Prajapati

Shailesh Prajapati

(Expert)
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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.

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