Pawan, employed in Magic Ltd., was eligible for transport allowance of ₹2,000 per month to meet his travel expenses from residence to office. He actually incurred ₹1,200 per month towards travel. The amount of travel all
CS Executive · Tax Laws and Practice · PYQS · December 2016
Pawan, employed in Magic Ltd., was eligible for transport allowance of ₹2,000 per month to meet his travel expenses from residence to office. He actually incurred ₹1,200 per month towards travel. The amount of travel allowance chargeable to tax as perquisite would be —
Answer & Explanation:
Correct Answer: Option (C)
Official answer key: (C).
Topics: Income Tax
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