02 December 2012
If company gives petrol allowance and car maintenance allowance, I have my own car and keep a driver, how much I can get deduction from taxable income if I pay 10,000/- salary to driver and spend 15000/- on petrol/ maintenance? what is the exception limit under current situation for a employee?
06 December 2012
First of all thanks to both of you. But my sir I am talking in respect of sec 10(14) allowances given to employee by employer. And as per my knowledge they are all tax free with the limit of actual expenses made or amount recevied which ever is lower. So according to that the whole amount is tax free because I am receiving allowance to perform my daily duty. I am right???
CAclubindia
