Perquisites - Sale of Moveable Assets - Rule 3(7)(viii) - Income Tax - Ready Reckoner - Income Tax

Rule 3(7)(viii): ANY MOVABLE ASSET SOLD AT A CONCESSIONAL PRICE Computer or Electronic item Motor car Other Assets Taxable Value = Actual cost to employer Less: Depreciation @ 50% for every completed year under WDV Method Less: Consideration recovered from the employee for such sale Taxable Value = Actual cost to employer Less: Depreciation @ 20% for every completed year under WDV Method Less: Consideration recovered from the employee for such sale Taxable Value = Actual cost to employer Less: Depreciation @ 10% for every completed year under SLM Method Less: Consideration recovered from the employee for such sale NOTE:- Electronic items in this case means data storage and handling devices like computers, digital diaries and printers. They do no include household appliances like washing machines, microwave ovens, mixers, hot plates etc.