TAXIMPLICATION

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Ajay (Querist)
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01 September 2008 Sir,

If the company sold the a car which are in use of official work at a 50% of its WDV to its Manager . definetly co. will face loss for that, but tell me any other FBT coverage for sale of tangible assets

CMA Jitendra Singh

CMA Jitendra Singh (Expert)
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06 September 2008 1.See the Date of Purchase of Car
2.(completed Years of Car*20%)*Value of car =x

3.Reduce x by value received from employee

4.Balalnce amount will be perquisite in hand of employee

5.There is no question of FBT

6.Taxable in hand of Employee