TaxTMI 
TaxTMI 
Company car sale of exiting exployee will taxable
16 Sep 2010 
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Perquisite taxation when employer sells company car to departing employee; taxable amount equals depreciated cost less sale consideration.
Sale of a company car to a departing employee is treated as a taxable perquisite where the employer's cost less depreciation (20% per completed year on the WDV method) minus the consideration received, if positive, constitutes the taxable amount. (AI Summary)
Sale of a company car to a departing employee is treated as a taxable perquisite where the employer's cost less depreciation (20% per completed year on the WDV method) minus the consideration received, if positive, constitutes the taxable amount. (AI Summary)
What will be income tax If company sold a car to company employee who is leaving company Regards Narendra