Hi Seniors
We are introducing the car lease policy in our company from December'10. I want to know the following details;
1. The car will be used partly for personal and partly for official.
2. If company purchase the car and gives to the employee what is the perquisites taxation will have to taken care
3. If the car taken from third party (Leasee company) then what will be the Perquisites taxation.
Waiting for yours help through reply.
Regards
Ravi
From India, Bangalore
We are introducing the car lease policy in our company from December'10. I want to know the following details;
1. The car will be used partly for personal and partly for official.
2. If company purchase the car and gives to the employee what is the perquisites taxation will have to taken care
3. If the car taken from third party (Leasee company) then what will be the Perquisites taxation.
Waiting for yours help through reply.
Regards
Ravi
From India, Bangalore
Till now i have not received the answers.
Regards
Ravi
Hi Seniors
We are introducing the car lease policy in our company from December'10. I want to know the following details;
1. The car will be used partly for personal and partly for official.
2. If company purchase the car and gives to the employee what is the perquisites taxation will have to taken care
3. If the car taken from third party (Leasee company) then what will be the Perquisites taxation.
Waiting for yours help through reply.
Regards
Ravi[/QUOTE]
From India, Bangalore
Regards
Ravi
Hi Seniors
We are introducing the car lease policy in our company from December'10. I want to know the following details;
1. The car will be used partly for personal and partly for official.
2. If company purchase the car and gives to the employee what is the perquisites taxation will have to taken care
3. If the car taken from third party (Leasee company) then what will be the Perquisites taxation.
Waiting for yours help through reply.
Regards
Ravi[/QUOTE]
From India, Bangalore
Hi Ravi,
I am part of leasing co., and with my experience i can share input on your query
- On company provided car the perq tax will be based on Cubic capicity and driver facility as mentioned below :
Motor car is used partly for official purpose and partly for private purpose and the running and maintenance expenses are met/ reimbursed by the employer :[/B] INR 1800 (plus INR 900 if driver is provided) per month if cubic capacity of car < 1.6 litres and INR 2400 (plus INR 900 if driver is provided) per month if cubic capacity of car > 1.6 litres
In Perq TAx circular there are few more scenario has been given.
- In any \scenario as long as the vehicle is company provided car there will be implication of perq tax.
Trust this suffice the purpose. If you need any more clarification let me know.
Regards
Sachin
From India, Delhi
I am part of leasing co., and with my experience i can share input on your query
- On company provided car the perq tax will be based on Cubic capicity and driver facility as mentioned below :
Motor car is used partly for official purpose and partly for private purpose and the running and maintenance expenses are met/ reimbursed by the employer :[/B] INR 1800 (plus INR 900 if driver is provided) per month if cubic capacity of car < 1.6 litres and INR 2400 (plus INR 900 if driver is provided) per month if cubic capacity of car > 1.6 litres
In Perq TAx circular there are few more scenario has been given.
- In any \scenario as long as the vehicle is company provided car there will be implication of perq tax.
Trust this suffice the purpose. If you need any more clarification let me know.
Regards
Sachin
From India, Delhi
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CAR LEASE POLICY.pdf
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