Petrol aalowance
This query is : Resolved
28 December 2011
Dear all,
A company paying Rs.10,000 p.m. to a director as petrol allowance, whether this is taxable in the hands of director? can it be claimed as conveyance allowance? what if it is actual reimbursement of such exps by the company?
thanking you.
A company paying Rs.10,000 p.m. to a director as petrol allowance, whether this is taxable in the hands of director? can it be claimed as conveyance allowance? what if it is actual reimbursement of such exps by the company?
thanking you.
28 December 2011
Conveyance allowance or petrol allowance it is not taxable only when the usage of such allowance for official purpose.
29 December 2011
As per my knowledge the reimbursement of such expenses in not taxable but fixed monthly allowance will be taxable in the hands of the employee.
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