A company acquired a motor car for ₹ 8 lakh on 30th June 2019. It sold the said motor car to its employee, Jayant, for ₹ 6 lakh on 10th June 2020. The company claimed depreciation @ 15% for the year ended 31st March 2020. The perquisite value in the hands of Jayant on sale of motor car would be –

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Question:A company acquired a motor car for ₹ 8 lakh on 30th June 2019. It sold the said motor car to its employee, Jayant, for ₹ 6 lakh on 10th June 2020. The company claimed depreciation @ 15% for the year ended 31st March 2020. The perquisite value in the hands of Jayant on sale of motor car would be –

1. ₹ 80,000

2. Nil

3. ₹ 2,00,000

4.₹ 1,40,000

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  1. A company acquired a motor car for ₹ 8 lakh on 30th June 2019. It sold the said motor car to its employee, Jayant, for ₹ 6 lakh on 10th June 2020. The company claimed depreciation @ 15% for the year ended 31st March 2020. The perquisite value in the hands of Jayant on sale of motor car would be –
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