22 February 2013
If an employee is entitled to reimbursement of Rs 10000 of car expenses for a car owned by the employee should the employer deduct 10000-2400-900 and give him the reimbursement or give him 10000 and the employee considers on Rs 10000-2400-900 for his perquiste taxation
23 February 2013
it depends for what purpose car is used:
if wholly for office work then no value. but keep a record for journey and employer will give certificate. if car is wholly used for private purpose then full taxable if partly used for office then 10000-2400-900 will be applicable
employer will give full 10000/- and will deduct TDS as 10000-2400-900 or accordingly above mentioned
CAclubindia
