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of <h1>Tax Implications for Company Car Use: Perquisite Value Calculation Based on Engine Size and Usage Type.</h1> An employee is provided with a 1200cc company-owned car valued at 426,000, used for both official and personal purposes. The company incurs expenses on petrol (46,000), a driver (36,000), and maintenance (10,000). The employee reimburses 12,000. For tax purposes, the perquisite value is calculated at 32,400, considering the car's engine capacity is below 1600cc. If the car is used solely for personal purposes, the perquisite value is 122,600, after accounting for depreciation, petrol, driver, and maintenance costs, minus the amount reimbursed by the employee.
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