Example:-X is employed by a company. He has been provided a car (1200cc) owned by employer, cost of the car is ₹ 4,26,000. The expenditure incurred by the company on maintenance of the car are – petrol: ₹ 46,000, driver: ₹ 36,000 and maintenance: ₹ 10,000. The car can be used by X partly for official purposes partly for personal purposes. A sum of ₹ 12,000 is recovered from X.

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..... d from X. - Salary - Perquisites - Motor Car - (Rent Free / Concessional) - Rule 3(2) Income Tax – Salary - Income Tax - Manuals - FAQ - Dated:- 11-8-2015 - Chapter No. 14 - Salary - Perquisites - Motor Car - (Rent Free / Concessional) - Rule 3(2) Since car engine capacity is less than 1600cc, the perquisite will be valued as follows: Car (1800 x 12) .....

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..... 36,000 Maintenance 10,000 TOTAL 1,34,600 Less: Amount recovered from X 12,000 Value of Perq .....

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