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conveyance

This query is : Resolved 

01 October 2009 Hi

I sat till late night for office work.I hired a taxi to come to my home.then claimed it from office.

Please tell me whether it will be taxable or not.
If yes, then under which sec----
If no, then why not

Thanks


01 October 2009 Sec 10(14) states that conveyance received to meet the expenditure on conveyance in performance of your duty is exepmted to the extent it is utilised for the said purpose.

Illus 1.
Conveyance received: Rs 1000
Actual Exp. : Rs 1000
Taxable : NIL

Illus 1.
Conveyance received: Rs 1000
Actual Exp. : Rs 900
Taxable : Rs 100

Regards,
Manish Soni

02 October 2009 Agreed with Expert

03 October 2009 Agree with expert.


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