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Taxability

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(Querist)
10 February 2011 Whether Car & Fuel allowance & meal allowance received by employees from its employer is exempt ?
If yes under which section ?
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chetan soni

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chetan soni (Expert)
10 February 2011 Car & Fuel allowances are exempted to the extent bills submitted by employees.

Meal allowances is exempted to the extent Rs. 50 per meal restricted to 2 meals a day for each working days of the month.
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Guest

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Guest (Expert)
10 February 2011 Car & Fuel allowances are exempted to the extent of expenses actually incurred..




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