Perquisites - Motor Car - (Rent Free / Concessional) - Rule 3(2)

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..... are reimbursed by the employer Actual expenses of employer Less: Amount recovered from the employee balance amount will be perquisites in employee's hand Not a perquisite (See Note-1) Calculate actual expenditure on by employer Less: If car engine capacity 1600cc, perquisite is 1,800 p.m. + 900 p.m. if driver is provided If car engine capacity 1600cc, perquisite is 2,400 p.m. + 900 p.m. if dri .....

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..... ges (if hired) Driver s salary Less: Amount recovered from the employee Not a perquisite (See Note-1) If car engine capacity 1600cc, perquisite is 600 p.m. + 900 p.m. if driver is provided If car engine capacity 1600cc, perquisite is 900 p.m. + 900 p.m. if driver is provided Note : Nothing is deductible in respect of any amount recovered from employee. Note-1: Conditions to be satisfied if the Car .....

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..... private purpose Other cars will be valued as fully used for private purpose. Note-3: Car facility between office to residence and back shall not be regarded as a benefit and is not chargeable to tax at all. Note-4: Vehicle other than Car owned by employee and running and maintenance met / reimbursed by employer If used for official purpose fully exempt (See Note-1) If used for private purpose then .....

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