TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Acts & Rules
of of All Acts & Rules
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Amendment to Section 16 of Income-tax Act: New Explanation 2 Clarifies Vehicle Use for Commuting Effective April 1986.</h1> In the Finance Act of 1985, an amendment to section 16 of the Income-tax Act was made, effective April 1, 1986. This amendment involves renumbering the existing Explanation as Explanation 1 and introducing a new Explanation 2. Explanation 2 clarifies that when an assessee uses a vehicle for commuting between their residence and workplace, it will not be considered as using the vehicle for purposes other than wholly and exclusively in the performance of their duties.
TaxTMI 
