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Question from Santosh on Feb 9 at 1:33 AM Dear All,
Here in my client place, I got a requirement to configure Car and Conveyance types. The requirement is as follows.
For Employee own car option, monthly amt. is 1800 plus the driver's salary 900 i.e. 2700 monthly and 32,400 annual exemption.If an Employee got 2 lakh, then out of 2 lakh 32,400 will be tax exempted and rest amount will be taxable.
And for Employer own car option, only 32,400 will be taxable. That means if an employee receives 2 lakh then only 32,400 will be taxable.
Anyone please guide for the above scenario.
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