Assessee liable to deduct TDS on perquisite Value of Motor Car

M/s. TCG Lifesciences Pvt. Ltd Vs ITO (ITAT Kolkata) Learned counsel for the assessee has contended that the amount in question paid by the assessee company to its employees towards car running and maintenance expenses is not covered by the definition of ‘perquisite’ given in section 17(2) of the Income Tax Act, 1961. We are unable to accept this contention of the learned counsel for the assessee. As per Clause (viii) of sub-section (2) of section 17, perquisite includes the value of any other fringe benefit or amenity as may be prescribed. Such other fringe benefits or amenities as mentio...