The company is providing interest-free car EMI. Basically, the company wants to purchase a car outright & provide it to employees with 60 months EMI without interest. After completion of 5 years accounting books value is zero hence at the cost of 1,000 it will be transferred to the employee. But what will happen to Taxation books? Will Income tax be applied to a company based on taxation books. Like Perquisite tax on the taxation, books value at the time of transfer.
From India, Mumbai

If you are knowledgeable about any fact, resource or experience related to this topic - please add your views using the reply box below. For articles and copyrighted material please only cite the original source link. Each contribution will make this page a resource useful for everyone.

Please Login To Add Reply →






About Us Advertise Contact Us Testimonials
Privacy Policy Disclaimer Terms Of Service

All rights reserved @ 2021 CiteHRô

All Material Copyright And Trademarks Posted Held By Respective Owners.
Panel Selection For Threads Are Automated - Members Notified Via CiteMailer Server