Hi All,
I need your views on the income tax treatment for fuel reimbursement and telephone allowance given to non-sales employees.
As per my understanding:
1. Fuel reimbursement is provided for business purposes, and for tax rebate on the bills submitted, the log book of travel needs to be maintained.
2. If an employee is receiving fuel reimbursement, then they shall not be eligible to receive the standard tax rebate of conveyance allowance at 800 p.m.
3. Telephone allowance - The rebate of income tax is available subject to the submission of actual bills and is only applicable to business-related calls, not for personal calls made.
Can someone please suggest ways to reduce the overhead of maintaining a logbook for fuel reimbursement and how we can safely provide telephone reimbursement without the effort of marking business calls in each bill where tax rebates are provided.
Also, if any of you can share with me the details of other tax-free allowances and their treatment, that would be useful.
Regards,
Vibhanshu
From India, New Delhi
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I need your views on the income tax treatment for fuel reimbursement and telephone allowance given to non-sales employees.
As per my understanding:
1. Fuel reimbursement is provided for business purposes, and for tax rebate on the bills submitted, the log book of travel needs to be maintained.
2. If an employee is receiving fuel reimbursement, then they shall not be eligible to receive the standard tax rebate of conveyance allowance at 800 p.m.
3. Telephone allowance - The rebate of income tax is available subject to the submission of actual bills and is only applicable to business-related calls, not for personal calls made.
Can someone please suggest ways to reduce the overhead of maintaining a logbook for fuel reimbursement and how we can safely provide telephone reimbursement without the effort of marking business calls in each bill where tax rebates are provided.
Also, if any of you can share with me the details of other tax-free allowances and their treatment, that would be useful.
Regards,
Vibhanshu
From India, New Delhi
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Hi Vibhanshu What is the limit of petrol reimbursement in litres ? what is the limit of telephone and mobile reimb limit per month ? please guide me? Pravin
From India, Mumbai
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From India, Mumbai
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