16 February 2011
An employees used Car with Chauffer taken on hire by Employer.
As per terms of employment all the tax on such Car has to be borne by employer. Now Whether any Perks equivalent of above said Tax borne by employer will be added in Taxable Value of Salary of Employee ?
16 February 2011
If the car is exclusive issued for employee's personal purpose than all the cost including hire charges will be added in perks. if it is partially for personal and partily for official purpose than only amount specified in IT Rules will be taken as perks.
CAclubindia
