20 February 2014
Goods manufactured by employer and sold to employee at concessional rate whether taxable or not
ex.cost 100, sold 60 ,60Rs taxable or
not
20 February 2014
On Rs. 60 the company will pay VAT and on the loss of 40 which is incurred by the company no IT is payable but the same is to be added as perquisite in the hands of the employee as it is less then cost. If it is sold at cost then no perquisite.
CAclubindia
