Dear Friends,
We are planning to provide Cars to our senior employees.
All are requested to please provide necessary advise and
policy to be formulated.
Your valuabe suggestions and early replies is higly appreciated.
thanks n regards,
rajkumar
From India, Delhi
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We are planning to provide Cars to our senior employees.
All are requested to please provide necessary advise and
policy to be formulated.
Your valuabe suggestions and early replies is higly appreciated.
thanks n regards,
rajkumar
From India, Delhi
Acknowledge(0)Amend(0)
Hi
One of the ways is that the Company finances a car on its name on behalf of the employee. Relevant amount, if any required to be recovered from the employee, can be recovered directly from his salary.
In that case, in the salary structure, you will mention in the FBT section "Car Loan". The employee will have tax rebate on the EMI that will be recovered by the Company.
If the Company wants to finance it own its own the same procedure can be followed.
It helps the Company as well, as this transction will result in increase in assets of the Company.
Regards
PG
From India, Delhi
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6One of the ways is that the Company finances a car on its name on behalf of the employee. Relevant amount, if any required to be recovered from the employee, can be recovered directly from his salary.
In that case, in the salary structure, you will mention in the FBT section "Car Loan". The employee will have tax rebate on the EMI that will be recovered by the Company.
If the Company wants to finance it own its own the same procedure can be followed.
It helps the Company as well, as this transction will result in increase in assets of the Company.
Regards
PG
From India, Delhi
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