24 March 2010
If employee provides Bill of Car hired, can we give him exemption on the basis of railway fare rate of first class A.C. e.g. he has travelled 2500 k.m. No. of persons 4 (self,spouse, and dependent parents) and bill is of Rs. 20000/-(Rs.8 per km). First class A.c. Rate per person is Rs. 3065/- which comes to Rs. 24520/-. since actual exp. is Rs. 20000/- it will be fully exempted. Pl. advise
CAclubindia
