Harsh (age 45 Years) is appointed as Vice-President in High Hope India Ltd, Mumbai on 1/02/2020. He has been provided a car of 2000 cubic capacity (CC) which is exclusively used by him for private and personal purposes o
CS Executive · Tax Laws · PYQS · December 2021
Harsh (age 45 Years) is appointed as Vice-President in High Hope India Ltd, Mumbai on 1/02/2020. He has been provided a car of 2000 cubic capacity (CC) which is exclusively used by him for private and personal purposes only. The actual cost of the Car is ₹18,00,000 and the monthly expenditure of Car of ₹5,000 is fully met by the employer. Perquisite value of Car subject to tax in the hands of Harsh in A.Y. 2021-22 would be:
Answer & Explanation:
Correct Answer: Option (D)
Official answer key: (D).
Topics: Income Tax Act, 1961
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