2007-12-10 05:50:53 · 3 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ India
I think this question is not "India" oriented. If is in Indian context, then there will be two answers.
1)If your income is business income or income from other sources and the expenses on account of toll are paid for carrying such income earning activity, then the toll amount paid is claimable as expense for tax purposes.
2)If you are employee of some business/organisation you can not claim it as expense against your salary to get tax benefit. But surely you can claim it from your employers not on yearly basis but on regular basis and get it reimbursed.
2007-12-11 20:27:48 · answer #1 · answered by Orthodox Purushottam Kabra 3 · 0⤊ 0⤋
If the tolls are for your commute to work, then no you can't claim them. If you go to your main jobsite, then have to drive to other sites during the day, and unreimbursed mileage and tolls could be deducted, but only if you itemize, and then only the amount that is over 2% of your AGI.
2007-12-10 19:10:11 · answer #2 · answered by Judy 7 · 0⤊ 0⤋
yes - tolls and parking are not included in the standard mileage rate - you have to exceed about 2% of your AGI though to get any real benefit - form 2106?
2007-12-10 15:04:12 · answer #3 · answered by Anonymous · 0⤊ 0⤋