02 August 2010
as per the latest edition of vk singhania
(1)where caR IS OWNED BY EMPLOYEE & is used partly for official purpose & partly for private & expenses are met by employer then amount to be deducted w.r.t official purpose is Rs1800pm where car's capacity is below 1600cc & 2400 for above 1600cc & Rs900 pm for driver.
(2)where car is owned by employer but expenses are met by employee then then amount to be deducted w.r.t official purpose is Rs1800pm where car's capacity is below 1600cc & 2400 for above 1600cc & Rs900 pm for driver.
BUT AS PER PADHUKA THIS LIMIT IS BELOW 1600CC RS1200pm+600pm(DRIVER) ABOVE 1600CC RS1600pm+600pm(DRIVER)
CAclubindia
