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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 perqu .....

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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 driver is provided OR Higher sum as recorded by .....

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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 provid .....

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r) / hire charges (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, perqui .....

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f journey undertaken for official purpose which may include date of journey, destination, mileage, and the amount of expenditure incurred thereon. The employer gives a certificate to the effect that the expenditure was incurred wholly and exclusively .....

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