Valuation of motor car conveyance revised for tax purposes, fixed fringe benefit amounts now depend on salary threshold. Amendment substitutes the item governing motor car conveyance valuation to prescribe two salary-based bands, each having a distinct fixed taxable amount for computing the perquisite value of employer-provided motor car conveyance, effective from the fiscal commencement date.
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Provisions expressly mentioned in the judgment/order text.
Valuation of motor car conveyance revised for tax purposes, fixed fringe benefit amounts now depend on salary threshold.
Amendment substitutes the item governing motor car conveyance valuation to prescribe two salary-based bands, each having a distinct fixed taxable amount for computing the perquisite value of employer-provided motor car conveyance, effective from the fiscal commencement date.
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