Tax on Vehicle Reimbursement

dear sir

can u plz clarify the vihcle is owned by u or by ur employer.bcoz there are different tax treatment for different cases.

yes  pls clarify you query 

vehicle owned by the employee, petrol and maintenance by employee himself only, so what will be the implication

Thanks,

dear sir

it is not an perquisite under income tax where the employee owns vehicle and also emloyee bear cost of its running and maintenance.nothing will be taxable in ur case.

Hi,

so, total amount under vehicle reimbursement can deduct from total income, under which Section(), what will be the treatment in Form 16

Thanks,

Dear Sir,

You are allready say vehicle owned by employee and any exp. related to car owned by employee then reimb. by co.

this is not taxable and no effect for form16

form16 for including (Basic, HRA, Ex-gratia, Spl Allowance, ta, da, h.loan f.loan,edu.loan, project allowance, water/gas/elect, mgb, medical, lta, interest on loan, any bonus etc.

then u can find gross total income and less deduction u/s 88 = u can find taxable income

dear sir very sorry for post a wrong reply earlier,it is taxable subject to following situations.