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 –
A. ₹ 80,000
B. Nil
C. ₹ 2,00,000
D. ₹ 1,40,000
Answer:C
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 –
A. ₹ 80,000 B. Nil C. ₹ 2,00,000 D. ₹ 1,40,000