Alok is employed in BCD Co. Ltd. as Finance Manager. The employer transferred the following assets to him on 15th April, 2017: Computer acquired by the employer in April, 2016 for ₹20,000 was given to Alok for a consider
CS Executive · Tax Laws · PYQS · December 2018
Alok is employed in BCD Co. Ltd. as Finance Manager. The employer transferred the following assets to him on 15th April, 2017: Computer acquired by the employer in April, 2016 for ₹20,000 was given to Alok for a consideration of ₹1,000.
Answer & Explanation:
Computation of taxable perquisites value in the hands of Mr. Alok for AY 2018-19 Particulars Amounts (₹) Amounts (₹) Computer (acquired in April 2016 sold to Alok in April, 2017). No reduction in value as there is no completed year after the date of acquisition i.e. original value taken 20000 Less: Sale Consideration (1000) Perquisites Value in respect of computer 19000
Topics: Income Tax Act, 1961
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