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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 __________.
Suggested Answer: A
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18 comments · newest first
HU
Huey
2 months ago
B feels more realistic based on usage.
DY
Dylan
2 months ago
I just don't see how A fits the sale price.
CA
Carissa
2 months ago
Still, A reflects the original cost better.
HU
Huey
3 months ago
Exactly, B considers that well.
DY
Dylan
3 months ago
But the market value is lower, right?
CA
Carissa
3 months ago
The depreciation makes sense for A.
HU
Huey
3 months ago
I lean towards B) Rs. 60,000. Seems fair.
DY
Dylan
3 months ago
Why A? I feel it's too high.
CA
Carissa
4 months ago
I think the answer is A) Rs. 72,000.
MO
Mona
4 months ago
Agree with Delisa, Rs. 60,000 sounds right!
AN
Angelica
4 months ago
Definitely not Nil, there's a value here.
VI
Vilma
4 months ago
Wait, how is it Rs. 1,23,000? That seems off.
DE
Delisa
6 months ago
I think the perquisite value is Rs. 60,000.
CE
Cecily
6 months ago
The car was bought for Rs. 3,00,000.
TA
Talia
6 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.
AI
Aide
7 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.
GR
Gracie
7 months ago
I remember something about calculating perquisites based on depreciation, but I can't recall the exact method we practiced.
KR
Kris
7 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.