Example:-The employer sells the following assets to the employees on 1st January 2015. Car to Z for 2,10,000 (Cost: 6,96,000) Computer to A for 24,270 (Cost: 1,17,000) Fridge to B for 1,000 (Cost: 40,000) All assets were purchased and put to use on 15th May 2012
11 August, 2015
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Perquisite valuation: employer sale of movable assets to employees taxed as written down value less sale consideration. Taxable perquisite on employer sale of movable assets to employees is the difference between the employer's written down value (after applying ... Summary
Perquisite valuation: employer sale of movable assets to employees taxed as written down value less sale consideration.
Taxable perquisite on employer sale of movable assets to employees is the difference between the employer's written down value (after applying depreciation to cost to reach the balance on the relevant date) and the sale consideration; the document demonstrates this by computing successive depreciated written down values for a car, computer and fridge and subtracting the sale prices to determine the perquisite amounts.
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