Increased tax on Tax on incentives???

This query is : Resolved

Manish (Querist)
Follow

08 July 2009 Hi,

I am getting a monthly reimbursements of Rs6500/- on account of car petrol and driver. Post budget and abolition of FTB - will this amount become taxable?

Thanks in advance.

CA Kartik Pandya

CA Kartik Pandya (Expert)
Follow

09 July 2009 Nops dear, Actually FBT is abloshied from 1.4.2009 in this budget so now onwards this will not be taxable.

taxindiaconnect

taxindiaconnect (Expert)
Follow

10 July 2009 Dear Manish, you have rightly pointed out in your query that the post abolishing FBT certain reimbursements etc. will be treated as part of perquisite under section 17 of The IT Act, accordingly be taxable in the hands of the employee. A full circular, as announced in his speech, be issued and containing the rules for perquisite valuation and items of perquisites in due course.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

CA.Gopal Rathi

S J MITRA

CA Sunny Sharma

Moby Mogli

Vimlesh kumar

Subscribe Now

Increased tax on Tax on incentives???

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Article Assistant

Manager- Finance and Compliance

CA Final

GST CONSULTANCY

GST CONSULTANT

Accountant