AAFM CTEP Exam - Topic 1 Question 76 Discussion

Actual exam question for AAFM's CTEP exam

Question #: 76
Topic #: 1

The employer had purchased a car for Rs. 3,00,000 which was being used for official purposes. After 2 year 6 months of its use, the car is sold to R, the employee, for Rs. 1,20,000. The value of this perquisite shall be __________.

ARs. 72,000

BRs. 60,000

CNil

DRs. 1,23,000

Show Suggested Answer

Suggested Answer: A

by Jestine at Apr 05, 2026, 12:26 AM

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Delisa

1 month ago

I think the perquisite value is Rs. 60,000.

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Cecily

1 month ago

The car was bought for Rs. 3,00,000.

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Talia

2 months ago

I’m confused about whether the perquisite is calculated on the original cost or the sale price. I need to double-check the rules on this.

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Aide

2 months ago

This question seems similar to one we did in class where we had to determine the taxable value of a benefit. I think the answer could be Rs. 60,000.

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Gracie

2 months ago

I remember something about calculating perquisites based on depreciation, but I can't recall the exact method we practiced.

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Kris

2 months ago

I think the perquisite value might be based on the difference between the purchase price and the sale price, but I'm not entirely sure how to calculate it.

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