Company have given two car one for employee and one for his Family Members ?employee can take benefit for both car under Car perquisites ?
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Hi Sagar,
I case of multiple cars then for each are you need to add the perquisite value as per their CC and need to mention with their salaries for tax computation.
For Eg: First car perquisite value is 1,800/- and another car perquisite value is 3,200/- then total perquisite value for the month would be 1,800+3,200=5000/-
Regards
Arpana
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Yes, both cars can be covered under car perquisite, but the tax treatment depends on use.
If one car is given to the employee and another to family members, the second car is also treated as a benefit given to the employee’s household. So, perquisite value may be calculated for both cars separately if they are used for personal or mixed use. For official use only, proper records/logbook should be maintained.