Yes friends, we were discussing about Perquisites, if you
remember a little, what is the taxability of Perquisites,
what are its exemptions, we were discussing about that in
our previous lectures.
Friends, you get some such Perquisites, for example, if you
go to any company, they will give you a computer, they will
give you a laptop to work with, nowadays everything is
digital, nobody is making files by hand, it is also
possible that you are given a permanent laptop, it happens
in big MNCs, if you are going home for 24 hours, you are
taking a laptop with you, in a way, you are getting a
benefit, because you are taking that laptop with you, for
example, you have internet connection, you
download a movie and watch it at home,
you have a 24-hour laptop with you, this is a benefit, this
can also be a benefit, if there is a big company, for
example, Reliance Industries Limited, and that employee,
because Mukesh Amani is also an employee, he is the
director of the company, he is on a salary basis, he is an
employee,
now I ask you a question, which I ask you in every lecture,
can a company give Hawaii Judge to its employee, the answer
is yes, we just have to see what is the taxability, what
are the exemptions, can a company give Hawaii Judge to its
employee, can Mukesh Amani get Hawaii Judge from Reliance
Industries, absolutely, now what I have to do is, I have to
see its taxability, so sir, the value of Hawaii Judge, how
much tax will I make in their income, what is the value of
the requisite that I have
take, which I have to add in their salary, what value
should I take, so this confusion was going on, so the
government said, do one thing, the laptops and computers,
we also understand that this is a genuine case, nowadays
all the work is done on computers and laptops, even if you
give a laptop to your employee, we will not believe that it
is taxable, in that case we will exempt it, we know that it
is a laptop, out of 24 hours, 8-10 hours a person will use
it for his office purpose only, but
Hawaii Judge, for example, I have given a water jet to an
employee, he comes to the office in a water jet and leaves
from the office, I have given a helicopter, it comes,
leaves the employee in the morning and leaves him at his
home in the evening, so what is that helicopter, in a way
it is a requisite, it is a benefit to you, now what value
do you have to take of it, in that case the government said
that the value of the requisite that you will take, that
will be 10% of the actual cost,
if it was a helicopter of 100 crore rupees or an aeroplane
of 100 crore rupees, so suppose the value of the requisite
is 10 crore rupees, add it to the salary of Mukesh Ambani
sir, there should be no nonsense on this, 10% of the actual
cost, that will become the value of the requisite, add the
value of the requisite to your salary,
Sir, it is also possible that the company does not have an
aeroplane, they are renting it from someone else, it is
also possible that there is a helicopter, they rented it
from Pawan Hanswala, gave it to Mr.
Ambani, that Mr.
Ambani, come in the morning and leave from the helicopter
in the evening at your home, make your helicopter stand on
the roof, you are laughing, that man has made a helipad in
his house, you are laughing at me, he has made a helipad in
Antila, that is why he has made it, that I will come to the
helicopter in the morning, I will finish my work and in the
evening I will go back to my home from the helicopter, I
will reach in 15 minutes, it will take 2 hours by car,
so the case is that if the company has rented the
helicopter, so in that case what will be taxable in the
hands of the employee, the amount that the company is
paying, it is a simple case, the company has its own
helicopter, 10% of the actual cost, if it is rented, then
the amount that the company is paying, take that, and what
to do, why are we taking this, to get the value of the
requisite, the value of the requisite has come, simply add
it to the salary, that much it will be taxable in the
of Mr.
Ambani, friends, sometimes it happens like, for example, I
am an employee in a company, and the company has given me a
laptop, that Mr.
Gupta, you take this laptop, make it work on this, you can
take it home, the purpose of taking it home is that if in
an emergency, some work comes at night, so you don't have
this excuse that I don't have any data and information, how
can I work, this was the objective of giving the laptop,
friends, giving the laptop means that you will be available
for work even at night, you have resources, suppose
friends, the laptop that the company has given me, since
the time that laptop has come in my
my day double and night quadruple progress has started
happening, I used that laptop to buy and sell shares in the
share market, the deals that I made with that laptop, I got
a huge profit, now the profit has become so much that I
thought that I will do this job,
I will do one thing, I will open my own business, now I
have given voluntary retirement to the company, friends, I
have read it before, voluntary retirement, I thought that
if I give voluntary retirement, then I will get some money
from there also, I have my own profit of the share market,
I will use both of them and open my own business, so I went
to the company and said that sir, this is my resignation,
give it to me, the company said, okay, resignation, this
laptop that we gave you, give it
I said, no sir, this laptop is a part of my heart, I will
not give it back, because of this laptop, I have got
success in life, you give this laptop to me, I will keep
this laptop, in that case, suppose it was a laptop worth 1
lakh rupees, and I said that I will give you 1100 rupees as
charity, and you give me this laptop, in that case, what
will be taxable in my hands, when you want to see taxable,
then you will see how much benefit you have taken, you had
a laptop worth 1 lakh, I agree, but
were using it, if you used it, then every year there would
have been depreciation, the WDV, the return on value would
have been minused,
suppose you have a laptop worth 1 lakh, suppose you have
put a depreciation rate of 40%, then the value of 1 lakh,
next year it will be 60,000, then from 60,000, again you
have reduced it to 40%, so it will be 36,000 rupees, you
have been using it for 3-4 years, the value of it, suppose
at the end it will be 5,000 rupees, and you have given 1100
rupees as charity, how much benefit you have taken, the
value of the laptop worth 5,000 rupees, you have taken it
by giving 1100 rupees, you have taken
benefit of 3900 rupees, in your hands, logically how much
should be taxable, 3900, you are not thinking of the value
of 1 lakh, that I should do it with the value of 1 lakh, 1
lakh was 5 years back, since then you are using it, so its
value has also reduced,
now in today's date, the return on value, you compare it
with that, the return on value, out of which the money you
are giving, the balance that is left is the benefit, sir it
can also happen that I take it for free, it can definitely
happen, why does it depend on your employer's setting, if
you have a good relationship with your employer, he says
take it for free, what should I do with it, I am closing
the company anyway, in that case, the WDV of 5,000 rupees
will be taxable in your hands,
rupees minus 0 rupees, which you have not given any
consideration, it will be taxable in your hands, 5,000
rupees.
So, he says, if it is a computer and electronic item, then
depreciated value, if it is a motor car, then also its
depreciated value will come, and if it is any other asset,
if it is an aeroplane, suppose Ambani sir goes by
helicopter, and he buys a helicopter from Calcutta
Airlines, so the return on value of that helicopter,
compare it with that, if he gives some money, then minus it
from the WDV, if he does not give anything, then the WDV,
as it is,
will be taxable in Ambani sir's hands.
If I would not have given anything, if I would have got the
laptop for free, then WDV would have become taxable.
Suppose I would have given something, suppose WDV was of Rs.
5000 for the laptop and I would have given Rs.
1100, then what would be the benefit in my hands? Rs.
My hands would have been taxable at Rs. 3900.
Is this point clear?
Okay friends, this was the point.
Thank you very much.