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.

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..... 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) Value of perquisite shall be determined as follows: Amount reimbursed by the employer 64,000 Less: Deduction for official .....

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