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Example -X is employed by a company. He has been provided a car (1200cc) owned by employer cost of the car is ₹ 426000. The expenditure incurred by the company on maintenance of the car are petrol ₹ 46000 driver ₹ 36000 and maintenance ₹ 10000. The car can be used by X partly for official purposes partly for personal purposes. A sum of ₹ 12000 is recovered from X.

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: .....

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