![]() Enter horsepower value of the car in the Car HP field.ĭefine Conveyance Types - In this activity you define a code for Conveyance Type. ![]() Enter a description for the car in the Car description field.ģ. Enter the type of car in the Car type field.Ģ. Assign a perquisite value for the vehicle and for the benefit of a Driver.ĭefine Vehicle Details - In this activity, you define details of the vehicle such as the type of car and its horsepower.ġ. Assign eligibility amounts for conveyance.ģ. Define the eligibility criteria for a Company owned car and own your car schemes.Ģ. The allowance or reimbursements for conveyance is a separate amount given to all employees to commute to office but the eligibility for the allowance varies if the employee uses a company provided car.ġ. The perquisite values attached are fully taxable and added to the gross salary. If the employee is provided with a driver for a car an additional perquisite value is added for the driver. Company cars are also provided for the personal use of the employee where a perquisite value is attached to the use of the car based on the horsepower of the car and the extent of benefit provided to the employee. ![]() ![]() The benefit of a Company provided car is provided to employees for official use. The company car could be provided for employee's use with or without the provision to transfer the ownership of the car to the employee at the end of a specified period. In this section of the IMG you set up the benefit of a company car being provided to the employee. ![]()
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