Under the Income-Tax-Act, 1961, the value of perquisite in respect of movable assets (other than the assets already specified in Rule 3 of the Income tax Rules, 1962) owned by the employer is calculated at the rate of:
1
10% per annum of the actual cost
2
20% per annum of the actual cost
3
10% per month of the actual cost
4
20% per month of the actual cost