Company car sale of exiting exployee will taxable, Income Tax

[udit gupta]

What will be income tax If company sold a car to company employee who is leaving company Regards Narendra

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[GOPALJI AGRAWAL]

The actual cost of the car to the company minus 20% depreciation for each completed year on WDV method less consideration received would be taxable as perquisite in the hands of employee if the difference is positive.