TDS on Salary

This query is : Resolved

Ravichandran (Querist)
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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

CMA. Subhash Kumar Jha

CMA. Subhash Kumar Jha (Expert)
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02 February 2011 IT exemption available towards the fuel & maint exp >

Rs. 1800 per month if car is 1.6 Ltr

CMA. Subhash Kumar Jha

CMA. Subhash Kumar Jha (Expert)
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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

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Sunil Kr. Sanganeria

Sunil Kr. Sanganeria (Expert)
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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.

CMA. Subhash Kumar Jha

CMA. Subhash Kumar Jha (Expert)
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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.

Guest

Guest (Expert)

02 February 2011 No car expenses can be claimed/deducted from the salary income

Ravichandran

Ravichandran (Querist)
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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

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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