Tax paid for motor insurance is non taxable??

Naveen (Querist) 12 December 2012 This query is : Resolved
Dear sir,

I had purchased new 4 wheeler in this financial year and paid approx 30000/- against insurance of the vehicle.

This insurance premieum can be considered in income tax calculations?? if so under which section this should be considered.

Your early reply on this would be highly appreciated.

Regards,
Naveen

Follow Query

Report Abuse

Raj Kumar Makkad (Expert) 12 December 2012
This amount is your expenditure which do not qualify for the rebate in taxation. Tax is to be levied on your income and not on your expenditure.

Naveen (Querist) 12 December 2012
sir,
I asked for tax exemption as vehicle maintenance expenditure

(i will get vehicle maintenance in my salary and is taxable too)

regards,
naveen