Contact us   Feedback   Annual Subscription   New User   Login      
Tax Management India .com
TMI - Tax Management India. Com
Extracts
Home List
← Previous Next →

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

Income Tax - Salary Income - 14 - Rule 3(2): VALUATION OF PERQUISITE IN RESPECT OF MOTOR CAR Private Purpose Official Purpose Private and official purpose Car owned by the employee and expenses met by him Not a perquisite Not a perquisite Not a perquisite Car owned by the employee and expenses 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 .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

Amount recovered from the employee Not a perquisite (See Note-1) 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 driver is provided Note: Nothing is deductible in respect of any amount recovered from employee. Car is owned/ hired by the employer and expenses met by the employee Sum total of Actual Expenditure incurred by employer Depreciation (10 % of the actual cost of the ca .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

 

 

 

 

 



|| Home || Acts and Rules || Notifications || Circulars || Schedules || Tariff || Forms || Case Laws || Manuals ||

|| About us || Contact us || Disclaimer || Terms of Use || Privacy Policy || TMI Database || Members || Site Map ||

© Taxmanagementindia.com [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.

Go to Mobile Version