TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Manuals
of of All Manuals
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Rule 3(2) Defines Taxable Perquisites for Employer-Provided Cars, Details Valuation Based on Use and Ownership</h1> Rule 3(2) outlines the valuation of perquisites related to motor cars for income tax purposes. If an employee owns the car and covers expenses, it is not considered a perquisite. When the employer reimburses expenses, the balance after deductions is taxable. For employer-owned or hired cars, specific monthly perquisite values apply based on engine capacity and driver provision. Conditions for official use exemptions include maintaining detailed journey logs and employer certification. Multiple cars are valued differently, with only one considered for mixed use. Travel between office and residence is not taxable, and non-car vehicles have distinct rules.
TaxTMI 
TaxTMI 
