Hi all, I want to know about the taxability on reimbursement of expenses in the hands of employee and the maximum cap/limit of the same. For. eg. If the company reimburses the telephone exp, petrol exp, books, drivers salary, car maintenance etc. then,:
1. what is the maximum cap/limit for claiming such expenditure that can be fixed by the company for such expenses ?
2. Under which section of the income tax act the deduction can be claimed by the employee / under which section it is not taxable ?
3. if a breakup can be given, pls provide like :
- on Telephone
- on Petrol
- On Car Maintenance
- On Drivers Salary
- On medical exp
- On Telephone exp
PLs reply soon, its really very urgent
From India, Bhopal
1. what is the maximum cap/limit for claiming such expenditure that can be fixed by the company for such expenses ?
2. Under which section of the income tax act the deduction can be claimed by the employee / under which section it is not taxable ?
3. if a breakup can be given, pls provide like :
- on Telephone
- on Petrol
- On Car Maintenance
- On Drivers Salary
- On medical exp
- On Telephone exp
PLs reply soon, its really very urgent
From India, Bhopal
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