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Is Driver Salary Reimbursement Taxable
Is Driver Salary Reimbursement Taxable -
The reimbursement is for the use of the vehicle wholly and exclusively for official purposes Fully exempt subject to maintenance of specified documents You can refer to Section 17 2 iii read with Rule 3 2 of the Income Tax Act or visit http www incometaxindia gov in Charts 20 20Tables List of benefits available to a salaried person Final
If you are a salaried person you have a right to claim the benefits of an exemptions available on your few parts of the salary components given either in the form of Allowances or Perquisites Here is the list given of most of the common exemptions which can be availed by a salaried person on his her Allowances or Perquisites
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Is Employee Mileage Reimbursement Taxable
Is Employee Mileage Reimbursement Taxable
Are reimbursements taxable When you give money to an employee you typically have to withhold and contribute taxes on the payment So are reimbursed expenses taxable Well it depends The IRS expense reimbursement guidelines have two types of plans accountable and nonaccountable
The notional taxable value is based on the cubic capacity of the car and driver s salary reimbursement provided the car is used for both official and personal purposes
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Is Relocation Reimbursement Taxable How To Assess Tax Liability For
Is Relocation Reimbursement Taxable How To Assess Tax Liability For
You pay 199 a day for a double room A single room costs 149 a day You can deduct the total cost of driving your car to and from Chicago but only 149 a day for your hotel room If both you and your spouse use public transportation you can only deduct your fare
However from FY 2018 19 the standard deduction was introduced in lieu of transport allowance and medical reimbursements If these two allowances are still part of your salary components then the amount received by you fully taxable On the other hand the standard deduction is not an allowance
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https://taxguru.in/income-tax/list-allowances...
If you are a salaried person you have a right to claim the benefits of an exemptions available on your few parts of the salary components given either in the form of Allowances or Perquisites Here is the list given of most of the common exemptions which can be availed by a salaried person on his her Allowances or Perquisites
https://www.apnaplan.com/tax-free-salary-components
The company can now reimburse both the driver salary and running expenses fully tax exempted But it would add Rs 1 800 per month for car less than 1600 CC Rs 2 400 per month for bigger car along with Rs 900 per month for driver salary as perquisite
If you are a salaried person you have a right to claim the benefits of an exemptions available on your few parts of the salary components given either in the form of Allowances or Perquisites Here is the list given of most of the common exemptions which can be availed by a salaried person on his her Allowances or Perquisites
The company can now reimburse both the driver salary and running expenses fully tax exempted But it would add Rs 1 800 per month for car less than 1600 CC Rs 2 400 per month for bigger car along with Rs 900 per month for driver salary as perquisite
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