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Petrol aalowance

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(Querist)
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.
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
28 December 2011 Conveyance allowance or petrol allowance it is not taxable only when the usage of such allowance for official purpose.
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Ravi Prasad

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Ravi Prasad (Querist)
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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