Petrol allowance for using own vehicle for work
This query is : Resolved
08 May 2012
Dear Experts,
Please let me be clarified whether the petrol allowance paid by the employer for using employee's own vehicle for execution of work which does not form part of the salary is taxable?
If taxable, what is the method of tax calculation?
Regards,
Govindarajan
Please let me be clarified whether the petrol allowance paid by the employer for using employee's own vehicle for execution of work which does not form part of the salary is taxable?
If taxable, what is the method of tax calculation?
Regards,
Govindarajan
08 May 2012
THIS SHOULD NOT BE GIVEN THE NAME ALLOWANCE AS IT IS REIMBURSEMENT OF EXPENSES FOR DOING OFFICIAL WORK & HENCE NOT TAXABLE.
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08 May 2012
Dear Swasti,
But it is not reimbursed bill by bill. A lump sum payment on monthly basis is being given. In this scenario, please let me be clarified.
Regards,
R. Govindarajan
But it is not reimbursed bill by bill. A lump sum payment on monthly basis is being given. In this scenario, please let me be clarified.
Regards,
R. Govindarajan
09 May 2012
Since it does not form part of salary and is a reimbursement, whatsoever the amount may be, in my opinion it is not taxable. But the employee should give the details of conveyance charged from the employer and also it should be justifiable.
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