AAFM Exam CTEP Topic 6 Question 30 Discussion

Actual exam question for AAFM's CTEP exam

Question #: 30
Topic #: 6

[All CTEP Questions]

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 Deonna at Nov 23, 2023, 05:48 PM

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Letha

6 days ago

Hmm, this is a tricky one. I'm going to go with C) Nil. If the car was being used for official purposes, then there might not be any perquisite value.

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Daniel

8 days ago

That makes sense. So, the correct answer is B) Rs. 60,000.

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Jacob

8 days ago

I'm going with D) Rs. 1,23,000. The value of the perquisite should be the difference between the original cost of the car and the amount paid by the employee.

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Marion

9 days ago

I believe it should be Rs. 60,000 because the difference between the purchase price and selling price is Rs. 1,80,000.

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Daniel

12 days ago

What do you think the value of the perquisite should be?

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Felix

14 days ago

I think the correct answer is B) Rs. 60,000. The value of the perquisite is the difference between the fair market value of the car and the amount paid by the employee.

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