Hi,
I am working in an IT company in Bangalore. I own a CAR and use it as the primary mode of transport between home and office. What is the amount that I can claim as NON-TAXABLE for EMPLOYEE-OWNED CAR?
Thanks,
Ashish
Dear Asish there is no basic limit for these issues. The limit is as per companies policy where you are working.
Does it mean that whatever amount I claim, it will be reduced from the Taxable-Salary?
yah. it will not be taxable in your hand.
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