Perquisite taxation: concessional asset sales to employees treated as taxable benefit when below market value.

Concessional sale of company assets to employees at prices below market value produces a taxable perquisite equal to the difference between market price and sale price. This applies to transfers to directors, substantial interest-holders, and other qualifying employees; assessing officers must inquire into such sales, verify market-value pricing, include the perquisite in salary income, and consider it when determining disallowances under the Act.

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