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Value of perquisites on movable assets

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Hello Experts,

Please explain will the perquisite tax is applicable for the below scenario.

Employer purchase mobile phones for use of employees for both official and personal purposes and return it back to the employer. All these mobile phones are capitalised as assets in the employer books.

As per Income tax movable assets provided by the employer attracts perquisite tax. Is this scenario perquisite tax is applicable.

Thanks.
Replies (1)

If the employer has not added it as perquisites in salary, no question of any tax on it.


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