Santhanam is employed as General Manager of Great Ltd. The employer gave motor car for official use of employee being self-driven by him. Entire expenses were met by employee amounting to ₹27,500. The car was used exclus
CS Executive · Tax Laws · PYQS · June 2023
Santhanam is employed as General Manager of Great Ltd. The employer gave motor car for official use of employee being self-driven by him. Entire expenses were met by employee amounting to ₹27,500. The car was used exclusively for official purpose and the engine capacity was more than 1.6 litres. How much is the perquisite value in respect of car given to the employee?
Answer & Explanation:
Correct Answer: Option (D)
Official answer key: (D). Official source note: Santhanam is employed as General Manager of Great Ltd. The employer gave motor car for official use of employee being self-driven by him. Entire expenses were met by employee amounting to ₹ 27,500. The car was used exclusively for official purpose and the engine c apacity was more than 1.6 litres. How much is the perquisite value in respect of car given to the employee? (A) ₹ 10,800 (B) ₹ 18,000 (C) ₹ 27,500 (D) Nil
Topics: Income Tax Act, 1961
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