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of <h1>Income Tax Rule 3(7)(viii): Calculating Taxable Value of Assets Sold to Employees at Discounted Prices</h1> Rule 3(7)(viii) of the Income Tax guidelines addresses the taxable value of movable assets sold at a concessional price, such as computers, motor cars, and other assets. The taxable value is determined by subtracting depreciation and any consideration recovered from the employee from the actual cost to the employer. Depreciation is calculated using different rates and methods: 50% under the Written Down Value (WDV) Method for computers and electronic items, 20% under WDV for motor cars, and 10% under the Straight Line Method (SLM) for other assets. Electronic items include data storage and handling devices but exclude household appliances.
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