Vehicle allowance exemption
This query is : Resolved
28 March 2012
Hi Sir,
Please give me clarification on Vehicle allowance exemption.
my question is:
my company paying vehicle allowance as a part of salary, how can i get the exemption this allowance and under which section.
Thanks
Vijaya Bhaskar
Please give me clarification on Vehicle allowance exemption.
my question is:
my company paying vehicle allowance as a part of salary, how can i get the exemption this allowance and under which section.
Thanks
Vijaya Bhaskar
29 March 2012
Consider it as Transport Allowance and claim deduction of Rs. 800p.m. on same.
30 March 2012
Hi Raghav,
All ready we are getting transport allowance rs. 9600 per annum, apart from we are receiving the vehicle allowance as part of salary, i think it is also exempted from income tax
please let me know
Thanks
Vijay
All ready we are getting transport allowance rs. 9600 per annum, apart from we are receiving the vehicle allowance as part of salary, i think it is also exempted from income tax
please let me know
Thanks
Vijay
30 March 2012
Hi Vijay,
Transport allowance is allowed by govt. @800p.m. irrespective of what are you spending for transportation.
Therefore no further allowance in regard to Vehicle Expenses will be allowed.
You can do Tax Planning by treating vehicle running as your business and receive Vehicle Running Rent from Co.
For more Info contact me
CA. Raghav Garg
(9812220035)
Transport allowance is allowed by govt. @800p.m. irrespective of what are you spending for transportation.
Therefore no further allowance in regard to Vehicle Expenses will be allowed.
You can do Tax Planning by treating vehicle running as your business and receive Vehicle Running Rent from Co.
For more Info contact me
CA. Raghav Garg
(9812220035)
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