Books and periodicals reimbursement whether taxable..?

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Kushagra (Querist)
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18 February 2009 i get Rs 3000 pm as reimbursement towards Books and periodicals... now wherther
a) it is taxable in my hands..?
b) do i have to submit bills for that..?
c) Books can it be any thing as news paper, magazines bills etc..??
d) is company liable to Pay FBT over the same..?
e) if Bills are not submitted will i be taxed over such amount.?

CA Tilak Raj Sharma

CA Tilak Raj Sharma (Expert)
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18 February 2009 Exemption will be as below:

1. Amount received towards reimbursement
2. Actual amount spent

w.e. less.

You also need to submit bill with your employer.

Kushagra

Kushagra (Querist)
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18 February 2009 but the amount was received by me as part of my salary on monthly basis irrespective of whether i submit the bills or not..its a fixed allowance that i am receiving..

chetan soni

chetan soni (Expert)
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18 February 2009 Thats ok, But if you submit the bills of that this will be tax free otherwise it is taxable.
And as per my opinion you can only submit the bills for books & periodicals relating to your nature of work eg. CA books like income tax act, rules etc.

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