As a part of my salary i am getting fuel reimbursement from my company. I have submitted my RC copy to my company. But now they want the insurance copy also. I checked with some my friends and learnt that you dont need to give insurance copy for the purpose of fuel reimbursement.
Can you let me know whether it is mandatory to submit the insurance copy. Is there any law in income tax or fringe benefit act which states this.
05 August 2008
in fbt insurance premium is not taken for tax purpose it is not added in fbt so why co.want insurance copy from you you will show the same to higher authorities they want to know the vehical ih in your name or not
06 August 2008
If the company have the policy for this, then you have to submit this, because some of companies have internal policy for vehicle reimburssment. Ask for the same.
CAclubindia
