Perquisites - Motor Car - (Rent Free / Concessional) - Rule 3(2)

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.... reimbursed by the employer Actual expenses of employer Less: Amount recovered from the employee balance amount will be perquisites in employee's hand Not a perquisite (See Note-1) Calculate actual expenditure on by employer Less: * If car engine capacity ≤ 1600cc, perquisite is 1,800 p.m. + 900 p.m. if driver is provided * If car engine capacity > 1600cc, perquisite is 2,400 p....

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....reciation (10 % of the actual cost of the car) / hire charges (if hired) * Driver's salary Less: Amount recovered from the employee Not a perquisite (See Note-1) * If car engine capacity ≤ 1600cc, perquisite is 600 p.m. + 900 p.m. if driver is provided * If car engine capacity > 1600cc, perquisite is 900 p.m. + 900 p.m. if driver is provided Note: Nothing is deductible in respect of an....

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....will be as under: * Only one car will be valued as partly used for official purpose and partly for private purpose * Other cars will be valued as fully used for private purpose. Note-3: Car facility between office to residence and back shall not be regarded as a benefit and is not chargeable to tax at all. Note-4: Vehicle other than Car owned by employee and running and maintenance met / rei....