Reply from Satish_Latti on Dec 13 at 7:09 AM Dear Jagan,
Thanks for your reply so as you said above scenario PCR INCC is totally assigned on IT0583 (Car & Conveyance) COCS, in the my case i employer soled car & employee purchased in the lesser then depreciation amount of Rs.79166.72 X 30.9%=24462.52/-.But remaining deprecation amount should be shown in employee earnings this earning tax is paid by the employer. So please advise me how can i clear it.
Car Honda City:
31-Dec-09 925,700.00 -Actual Purchased Amt
31-Dec-10 185,140.00 740,560.00
31-Dec-11 148,112.00 592,448.00
31-Dec-12 118,489.60 473,958.40
31-Dec-13 94,791.68 379,166.72
Selling Price 300,000.00
Perquisite 79,166.72
Tax @ 30.9% 24,462.52
Thanks & regards,
Satish.
| | | ---------------Original Message---------------
From: Satish_Latti
Sent: Thursday, December 12, 2013 7:19 AM
Subject: Perk Calculate on Car Sale to the Employee
Hi Dear Experts,
Please suggest me how to assign Perk calculation as my client requirement as below. Company car sold to employee for personal use at a lesser price than depreciated price of asset. The difference being perquisite is taxable in hands of employee but company is at stand to bear the Income tax.
So please suggest me how should I configure it or is possible through standard scenario in the system please advise me about wage type & info types.
On perk amount tax of Rs.24462.52 paid by employer.
Car Honda City:
31-Dec-09 925,700.00 -Actual Perchased Amt
31-Dec-10 185,140.00 740,560.00
31-Dec-11 148,112.00 592,448.00
31-Dec-12 118,489.60 473,958.40
31-Dec-13 94,791.68 379,166.72
Selling Price 300,000.00
Perquisite 79,166.72
Tax @ 30.9% 24,462.52
Thanks in advance,
Satish. |
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