Example:-X owns car (1400cc). He uses it partly for official purposes and partly for private purposes. During the previous year 2014-15, he incurs a sum of 40,000 on running and maintenance of car. Besides, he has engaged a driver (salary 24,000). The employer reimburses the entire expenditure of 64,000. Log book of the car is not maintained.

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... sides, he has engaged a driver (salary 24,000). The employer reimburses the entire expenditure of 64,000. Log book of the car is not maintained.
Salary - Perquisites - Motor Car - (Rent Free / Conc .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... e logbook of the car is maintained and 70 percent of the expenditure is attributable towards the official use of the car. The value of perquisite shall be determined as follows: Amount reimbursed by .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X