MANOJ (SERVICE) (56 Points)
18 December 2012
Hi,
My company reimburses to employees Driver Salary & Vehicle maintenance on actuals also provide sodexo meal pass as a part of their CTC. The vehicle was not provided by company.
Kindly provide your saggestion on taxable part of employees in the current Asst. Year ?
Thanks,
Manoj Das
HARPREET SINGH
(Chartered Accountant)
(79 Points)
Replied 18 December 2012
Hi Manoj,
You will get exemption of Rs.1800 (car running expenses if car engine capacity less than 1600 CC otherwise Rs 2400) + Rs 900 (Drivers salary), Total Rs2700 or Rs3300 (for big cars) would be exempted per month irrespective of actuals. Please note you have to provide valid bills for same to employer to get tax exemption.
Example Actual exepnse & reimbursed by company Rs 5000
Actual driver salary & reimbursed Rs 10000
Total received & expensed 15000
Exempted Rs 2700 (small cars) subject to submission of fuel bills & drivers voicher
Taxable Rs12300
I hope this is clear.
Thanks
Harpreet Singh
CAclubindia
