Tax saving realted with food coupons and vehicle reimbursment (INDIA)

Question

anybody can tell me how can i save the TAX by opting for the flexi benefit plan, by opting for the food coupns and vehicle reimbursement. is this is money is excluded from the taxable income ?. pls suggest

Answer 1

The food coupons are part of your gross pay but you do not get it as money but as coupons - this entire amount of food coupons does not reflect in your "Salary" head thereby lowering your taxable earnings.

Vehicle maintenance is another such - this comes as Fringe Benefit Tax wherein you are not accountable to tax for the amount for which you submit bills; if you do not, it is naturally taxable in the normal fashion.

On the whole, food coupons is good, especially if you are married and / or cook at home. The vehicle maintenance is also very good if you are using it...

Answer 2

you can have tax exemption on travelling.