Dear All,
Kindly provide your opinion on below query.
Rule 3(2) of Income Tax Act lays down the valuation of perquisites of a Motor Car or any other automotive conveyance.
Where in case of a motor car owned by employee and is used for official purposes. Whether travel from residence to office and vise-versa on daily basis can be treated as official purpose.?
If yes than whether fuel reimbursement to employees by employer for this purpose is fully exempt from income tax?
Regards
CA. Gaurav Jindal
CAclubindia
