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PAY_IN_CAR_300 - Define Perquisite Value of Vehicles for Taxation

PAY_IN_CAR_300 - Define Perquisite Value of Vehicles for Taxation

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In this activity, you associate a value with the horsepower of a vehicle. Each employee is entitled to a certain value in perks and this value is taken into account when the employee's perks are calculated.

Mr. Singh is entitled to a perk value of Rs.2000 and Mr. Ram is entitled to a perk value of Rs.4000 based on their salary slabs.

Assuming that the perk value associated with a 55 Bhp Maruti 800 is Rs.2000 and a 65 Bhp Maruti Esteem is 3000, Mr. Singhs eligibility permits him to use only a Maruti 800 under the Company owned car scheme or Own your car scheme, where as Mr. Ram is eligible to use one Maruti Esteem or two Maruti 800s under the same schemes.

  1. Enter the horsepower value of the car in the HP Limit field.
  2. Enter the perk value of the car in the Perk value field.
  3. Select the currency in the Currency field.
  4. Enter the start and end dates for the period.
  5. Save your entries.






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Length: 1188 Date: 20240607 Time: 072448     sap01-206 ( 29 ms )