A taxpayer is seeking to claim expenses related to their company-leased car, including fuel, driver's salary, and insurance, through their Income Tax Return (ITR) under the old tax regime. They missed submitting bills for reimbursements, leading to the amount being added to their taxable income. The discussion aims to identify the relevant section under the Income Tax Act for claiming these expenses.
17 June 2025
I have taken company car on lease, and it is on company name. My company does gives me reimburse Rs 20000 /- for maintenances of car but I forget to submit the bills (Fuel, driver salary & insurances paid by me) by end of year, thus company made whole 9 months reimburse amount (rs 180000/-) in taxable income as unclaimed reimbursements. Is there a way I can claim it via ITR ? if yes, under what section ? Thank in advance..
17 June 2025
According to Section 10(14)(ii) of the Income Tax Act and Rule 2BB of the Income Tax Rules, salaried individuals can claim conveyance allowance that is exempted up to the actual expenditure incurred for the official purpose or the entire allowance whichever is less will be exempted.