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income from salary

Forum D Saiya (Employee) (212 Points)

09 December 2010

If a salaried person invests in laptop then will he get deduction on the invoice amount of laptop?

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14 Replies

Amit Nishania (CA Final - Student) (495 Points)
Replied 09 December 2010

No, expenses are not allowed as deduction from the income from salary...

Suresh Prasad (www.aubsp.com) (15630 Points)
Replied 09 December 2010

Originally posted by : Amit Nishania
	No, expenses are not allowed as deduction from the income from salary...

I Agree with Amit..........

(Guest)

Originally posted by : Amit Nishania
	No, expenses are not allowed as deduction from the income from salary...

ya it is not allowed

CA Saba Naaz (Chartered Accountant) (8487 Points)
Replied 09 December 2010

not allowed.

3 Like

Nitin Grover (CS) (1228 Points)
Replied 10 December 2010

Dear Friends

I wanna tell you its not an expenses. you are purchasing Fixed Assets. Its not allowed for deduction not only in Salary case but in all cases its not eligible for deduction.

Regards

CA Deepesh Ruhela (Keen to Learn) (3271 Points)
Replied 10 December 2010

Originally posted by : Amit Nishania
	No, expenses are not allowed as deduction from the income from salary...

ya it is not allowed

B. Umapathy (student) (405 Points)
Replied 10 December 2010

ya it is not deductible

Raju (Meger, Aquisi,Takeover) (Audit Assitant) (56 Points)
Replied 10 December 2010

As per section 3(7)(viii) of income tax the benefit to the employee arising from the transfer of any movable assets belonging to the employer directly or indirectly to the employe or any member of his house hold shall be determined as under

For Computer and electronic :- Actual cost of such asset to the employer as reduced by the 50% of the cost to the employer for each completed year during which such assets was put to use by the employer , on the basic of WDV method.

Conclusion in your case if you can proof that indirectly it is purchase by the employer and emplyer made payment to the emplyee than 50% ( completed year used by the employer) cost is reduced and wdv method is used. bill is in the name of company that 50% add in your salary.

but individualy you are purchasing it for your self other than the salary it wil not allowed any where.

it will taxable in emplyee hand in your case if you have the bill in ur name even though company reimburse you for the same.

DK Venkatesh (Article completed) (25 Points)
Replied 10 December 2010

But provided he should get from Co as perquisite

CS LLB Pulkit Gupta (https://www.facebook.com/pages/Life-and-Promises/553962034682487) (16631 Points)
Replied 10 December 2010

Originally posted by : Amit Nishania
	No, expenses are not allowed as deduction from the income from salary...

Sharad Suman Das (art) (141 Points)
Replied 11 December 2010

Dear Friend,

Purchase of any type of Fixed Assets is not elligible for deduction from Income from salary, as the laptop purchased by the assessee comes under the category of fixed aseets and hence the amount spent for the laptop is not allowable under this head.