TDS on Salary
This query is : Resolved
02 February 2011
A assessee Earning the Salary income for the year 2010-2011 App. Rs. 8,00,000/P.a. he can be claimed Deduction under Chapter 80c, 80d and housing Loan interest also.
He is having own car and his monthly Fuel Exp Rs. 6000/ and Maintenance charges Rs. 25000 P.A
Total Amount he spent is Rs. 97,000/ is this can be claimed from income Tax?
please clarrify
He is having own car and his monthly Fuel Exp Rs. 6000/ and Maintenance charges Rs. 25000 P.A
Total Amount he spent is Rs. 97,000/ is this can be claimed from income Tax?
please clarrify
02 February 2011
IT exemption available towards the fuel & maint exp >
Rs. 1800 per month if car is 1.6 Ltr
Rs. 1800 per month if car is 1.6 Ltr
02 February 2011
IT exemption available towards the fuel & maint exp >
1800 per month if car is less than or equal to 1.6 Ltr
2400 per month if car is more than to 1.6 Ltr
1800 per month if car is less than or equal to 1.6 Ltr
2400 per month if car is more than to 1.6 Ltr
02 February 2011
The question is not clear such as:
who owned car
who icurs expensiture
used for official or ptivate or for both.
I assume that car is owned by you and you incur expenditre from your own pocket. The answer is
If the car is owned by you and all expenses are beared by you. Nothing will be treated as perquisites in the hand of employee. You will also not get any deduction for maintenance and petrol expenses incurred by you.
who owned car
who icurs expensiture
used for official or ptivate or for both.
I assume that car is owned by you and you incur expenditre from your own pocket. The answer is
If the car is owned by you and all expenses are beared by you. Nothing will be treated as perquisites in the hand of employee. You will also not get any deduction for maintenance and petrol expenses incurred by you.
02 February 2011
My assumption behind my above answer is :
You owned the car & you are using the car for both official & private purpose.
Further, Reimbursement is 6000/- X 12 = 72000/- + 25000/- = 97000/-
& this reimbursement is against bills.
You owned the car & you are using the car for both official & private purpose.
Further, Reimbursement is 6000/- X 12 = 72000/- + 25000/- = 97000/-
& this reimbursement is against bills.
Guest
Guest
(Expert)
02 February 2011
No car expenses can be claimed/deducted from the salary income
03 February 2011
Car is owned by an Assessee and fuel & maintenance expensese are bearbed by an assessee and used for travell to Office to Residence and his private use
please give clarrification
please give clarrification
Guest
Guest
(Expert)
03 February 2011
There will be no deduction for expenses on car from the salary income. If you are not agree, please quote the sec or sub.sec. for claim
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