Taxpayers are normally aware of deduction under the Income Tax Act, 1961 for which they are eligible but it is noticed that taxpayers are found unaware of Taxability of Various Allowances and exemptions available to them under different sources of Income i.e. Salary , Business Income, House property other sources etc.

In this article an effort has been made to Summarise Allowances /exemptions available to different categories of Tax Payers under Various sources of Income.

S. No.

Section Particulars Limit of exemption
A. Under the head Salaries
1. 10(7) Any allowance or perquisite paid or allowed by Government to its employees posted outside India Entire Amount
2. Allowances to Judges of High Court/Supreme Court Exempt, subject to certain conditions.
3. Compensatory allowance received by a Judge under article 222(2) of the Constitution Fully Exempt
4. Salary and allowances received by a teacher /professor from SAARC member state (Subject to certain conditions). Fully Exempt
5. Allowances paid by the UNO to its employees Fully Exempt Individual – Government employee
6. 16 (ii) Entertainment Allowance received by the Government employees (Fully taxable in case of other employees) Least of the following is exempt from tax:

a) Rs 5,000

b) 1/5th of salary (excluding any allowance, benefits or other perquisite)

c) Actual entertainment allowance received

7. 10(13A) House Rent Allowance (Sec. 10(13A) & Rule 2A) Least of the following is exempt:

a) Actual HRA Received

b) 40% of Salary (50%, if house situated in Mumbai, Calcutta, Delhi or Madras)

c) Rent paid minus 10% of salary

* Salary= Basic + DA (if part of retirement benefit) + Turnover based Commission

Note:

i. Fully Taxable, if HRA is received by an employee who is living in his own house or if he does not pay any rent

ii. It is mandatory for employee to report PAN of the landlord to the employer if rent paid is more than Rs. 1,00,000 [Circular No. 08 /2013 dated 10th October, 2013].

8. 10(14) Children Education Allowance Up to Rs. 100 per month per child up to a maximum of 2 children is exempt
9. 10(14) Hostel Expenditure Allowance Up to Rs. 300 per month per child up to a maximum of 2 children is exempt
10. 10(14) Transport Allowance granted to an employee to meet expenditure for the purpose of commuting between place of residence and place of duty Rs. 3,200 per month granted to an employee, who is blind or deaf and dumb or orthopedically handicapped with disability of lower extremities
11. Sec. 10(14) Allowance granted to an employee working in any transport business to meet his personal expenditure during his duty performed in the course of running of such transport from one place to another place provided employee is not in receipt of daily allowance. Amount of exemption shall be lower of following:

a) 70% of such allowance; or

b) Rs. 10,000 per month.

12. 10(14) Conveyance Allowance granted to meet the expenditure on conveyance in performance of duties of an office Exempt to the extent of expenditure incurred for official purposes
13. 10(14) Any Allowance to meet the cost of travel on tour or on transfer Exempt to the extent of expenditure incurred for official purposes
14. 10(14) Daily Allowance to meet the ordinary daily charges incurred by an employee on account of absence from his normal place of duty Exempt to the extent of expenditure incurred for official purposes
15. 10(14) Helper/Assistant Allowance Exempt to the extent of expenditure incurred for official purposes
16. 10(14) Research Allowance granted for encouraging the academic research and other professional pursuits Exempt to the extent of expenditure incurred for official purposes
17. 10(14) Uniform Allowance Exempt to the extent of expenditure incurred for official purposes
18. Sec. 10(14) Special compensatory Allowance (Hilly Areas) (Subject to certain conditions and locations) Amount exempt from tax varies from Rs. 300 per month to Rs. 7,000 per month.
19. Sec. 10(14) read with Rule 2BB Border area allowance Remote Locality or allowance or Disturbed Area allowance or Difficult Area Allowance (Subject to certain conditions and locations) Amount exempt from tax varies from Rs. 200 per month to Rs. 1,300 per month.
20. Sec. 10(14) Tribal area allowance in (a) Madhya Pradesh (b) Tamil Nadu (c) Uttar Pradesh (d) Karnataka (e) Tripura (f) Assam (g) West Bengal (h) Bihar (i) Orissa Up to Rs. 200 per month
21. Sec. 10(14) Compensatory Field Area Allowance. If this exemption is taken, employee cannot claim any exemption in respect of border area allowance (Subject to certain conditions and locations) Up to Rs. 2,600 per month
22. Sec. 10(14) Compensatory Modified Area Allowance. If this exemption is taken, employee cannot claim any exemption in respect of border area allowance (Subject to certain conditions and locations) Up to Rs. 1,000 per month
23. Sec. 10(14) Counter Insurgency Allowance if this exemption is taken, employee cannot claim any exemption in respect of border area allowance (Subject to certain conditions and locations) Up to Rs. 3,900 per month
24. Sec. 10(14) Underground Allowance is granted to employees working in uncongenial, unnatural climate in underground mines Up to Rs. 800 per month
25. Sec. 10(14) High Altitude Allowance is granted to armed forces operating in high altitude areas (Subject to certain conditions and locations) a) Up to Rs. 1,060 per month (for altitude of 9,000 to 15,000 feet)

b) Up to Rs. 1,600 per month (for altitude above 15,000 feet)

26. Sec. 10(14) Highly active field area allowance is granted to members of armed forces (Subject to certain conditions and locations) Up to Rs. 4,200 per month
27. Sec. 10(14) Island Duty Allowance is granted to members of armed forces in Andaman and Nicobar and Lakshadweep group of Island (Subject to certain conditions and locations) Up to Rs. 3,250 per month
28. City Compensatory Allowance Fully Taxable
29. Fixed Medical Allowance Fully Taxable
30. Tiffin/Lunch/Dinner/Refreshment Allowance Fully Taxable
31. Servant Allowance Fully Taxable
32. Dearness Allowance Fully Taxable
33. Project Allowance Fully Taxable
34. Overtime Allowance Fully Taxable
35. Telephone Allowance Fully Taxable
36. Holiday Allowance Fully Taxable
37. Any Other Cash Allowance Fully Taxable
38. Any Other Cash Allowance Fully Taxable
39. 16(ia) Standard Deduction Rs. 50,000 or the amount of salary, whichever is lower

B. Under the head Income from house property

1. First proviso to section 23(1) Municipal tax levied by local authority and borne by owner in respect of house property Amount actually paid during the relevant previous year
1A. 23(5) No Notional income for house property held as stock-in-trade Any building and land appurtenant thereto held as stock-in-trade which is not let during the whole or any part of the previous year.

Annual value of such property for the period upto two year from the end of the financial year in which the certificate of completion of construction of the property is obtained from the competent authority, shall be taken to be Nil.

2. 24(a) Standard Deduction 30% of the Annual Value (Gross Annual Value- Municipal Taxes)
3. 24(b) Interest incurred on borrowed capital Interest on borrowed capital is allowed as deduction from income from house property as under:

a) Up to Rs. 2,00,000 (if amount is borrowed for construction/acquisition of self-occupied house property on or after 01-04-1999), subject to certain other conditions

b) Up to Rs. 30,000 (if amount is borrowed for reconstruction, repair or renewals of self-occupied house property)

c) Actual amount of interest paid or payable during the year (in case of let-out property)

d) Pre-construction period interest is allowed in 5 equal  annual installments (Subject to certain conditions)

Note:

With effect from Assessment Year 2020-21, deduction for interest paid or payable on borrowed capital shall be allowed in respect of two self-occupied house properties. However, the aggregate amount of deduction under this provision shall remain same i.e., Rs. 30,000 or Rs. 2,00,000, as the case may be.

4. Section 25A Standard Deduction from arrears of rent or unrealized rent received subsequently 30% of arrears of rent or unrealized rent.

C. Under the head Profits and gains from business or profession

1. 32(1) Depreciation in respect of:

i) Tangible assets (buildings, machinery, plant or furniture);

ii) Intangible Assets (know-how, patents, copyrights, trademarks, licenses, franchises, or any other business or commercial rights of similar nature not being goodwill of business or profession)

Depreciation shall be allowed at prescribed percentage on actual cost of an asset.

However, if asset is acquired and put to use for less than 180 days during the previous year, the deduction shall be restricted to 50% of depreciation computed above.

2. 32(1) Depreciation in respect of:

i) Tangible assets (buildings, machinery, plant or furniture);

ii) Intangible Assets (know-how, patents, copyrights, trademarks, licenses, franchises, or any other business or commercial rights of similar nature not being goodwill of business or profession)

Depreciation shall be allowed at prescribed percentage on written down value of each block of asset (as per WDV method).

However, if asset is acquired and put to use for less than 180 days during the previous year, the deduction shall be restricted to 50% of depreciation computed above.

3. 32(1)(iia) Additional depreciation on new plant and machinery (other than ships, aircraft, office appliances, second hand plant or machinery, etc.) shall be allowed subject to certain conditions. Additional depreciation to be allowed at 20 % of actual cost of new plant and machinery.

However, if an asset is acquired and put to use for less than 180 days during the previous year, 50% of additional depreciation shall be allowed in year of acquisition and balance 50% would be allowed in the next year.

4. Proviso to Section 32(1)(iia) Additional depreciation on new plant and machinery (other than ships, aircraft, vehicle, office appliances, second hand plant or machinery, etc.) shall be allowed subject to certain conditions. Additional depreciation to be allowed at 35 % of actual cost of new plant and machinery.

However, if an asset is acquired and put to use for less than one 180 days during the previous year, 50% of additional depreciation shall be allowed in year of acquisition and balance 50% in next year.

5. 32AC Deduction under section 32AC is available if actual cost of new plant and machinery acquired and installed by a manufacturing company after 31-3-2013 but before 1-4-2015 exceeds Rs. 25/100 Crores, as the case may be.(Subject to certain conditions) 15% of actual cost of new asset acquired and installed
6. 32AD Investment allowance for investment in new plant and machinery (other than ships, aircraft, vehicle, office appliances, second hand plant or machinery, etc.) if manufacturing unit is set-up in notified backward area in the State of Andhra Pradesh, Bihar, Telangana or West Bengal

(subject to certain conditions)

Investment allowance to be allowed at 15 % of actual cost of new plant and machinery in the year in which such asset is installed.
7. 33AB Amount deposited in Tea/Coffee/Rubber Development Account by assessee engaged in business of growing and manufacturing tea/Coffee/Rubber in India Deduction shall be lower of following:

a) Amount deposited in account with National Bank for Agricultural and Rural Development (NABARD) or in Deposit Account of Tea Board, Coffee Board or Rubber Board in accordance with approved scheme; or

b) 40% of profits from such business before making any deduction under section 33AB and before adjusting any brought forward loss.

(Subject to certain conditions)

8. 33ABA Amount deposited in Special Account with SBI/Site Restoration Account by assessee carrying on business of prospecting for, or extraction or production of, petroleum or natural gas or both in India Deduction shall be lower of following:

a) Amount deposited in Special Account with SBI/Site Restoration Account; or

b) 20% of profits from such business before making any deduction under 33ABA and before adjusting any brought forward loss.

(Subject to certain conditions)

9. 35(1)(i) Revenue expenditure on scientific research pertaining to business of assessee is allowed as deduction (Subject to certain conditions). Entire amount incurred on scientific research is allowed as deduction.

Expenditure on scientific research within 3 years before commencement of business (in the nature of purchase of materials and salary of employees other than perquisite) is allowed as deduction in the year of commencement of business to the extent certified by prescribed authority.

10. 35(1)(ii) Contribution to approved research association, university, college or other institution to be used for scientific research shall be allowed as deduction (Subject to certain conditions) 100% of sum paid to such association, university, college, or other institution is allowed as deduction.
11. 35(1)(iia) Contribution to an approved company registered in India to be used for the purpose of scientific research is allowed as deduction (Subject to certain conditions) 100% of sum paid to the company is allowed as deduction
12. 35(1)(iii) Contribution to approved research association, university, college or other institution with objects of undertaking statistical research or research in social sciences shall be allowed as deduction (Subject to certain conditions) 100% of sum paid to such association, university, college, or other institution is allowed as deduction

 

13. 35(1)(iv) read with 35(2) Capital expenditure incurred during the year on scientific research relating to the business carried on by the assessee is allowed as deduction (Subject to certain conditions) Entire capital expenditure incurred on scientific research is allowed as deduction.

Capital expenditure incurred within 3 years before commencement of business is allowed as deduction in the year of commencement of business.

Note:

i. Capital expenditure excludes land and any interest in land;

ii. No depreciation shall be allowed on such assets.

14. 35(2AA) Payment to a National Laboratory or University or an Indian Institute of Technology or a specified person is allowed as deduction.

The payment should be made with the specified direction that the sum shall be used in a scientific research undertaken under an approved programme.

100% of payment is allowed as deduction (Subject to certain conditions).
15. 35(2AB) Any expenditure incurred by a company on scientific research (including capital expenditure other than on land and building) on in-house scientific research and development facilities as approved by the prescribed authorities shall be allowed as deduction (Subject to certain conditions).

Expenditure on scientific research in relation to Drug and Pharmaceuticals shall include expenses incurred on clinical trials, obtaining approvals from authorities and for filing an application for patent.

100% of expenditure so incurred shall be as deduction.

Note:

i.  Deduction shall be allowed if company enters into an agreement with the prescribed authority for co-operation in such research and development and fulfils conditions with regard to maintenance of accounts and audit thereof and furnishing of reports in such manner as may be prescribed.

16. 35AD Deduction in respect of expenditure on specified businesses, as under:

a) Setting up and operating a cold chain facility

b) Setting up and operating a warehousing facility for storage of agricultural produce

c) Building and operating, anywhere in India, a hospital with at least 100 beds for patients

d) Developing and building a housing project under a notified scheme for affordable housing

e) Production of fertilizer in India

(Subject to certain conditions)

150% of capital expenditure incurred for the purpose of business is allowed as deduction provided the specified business has commenced its operation on or after 01-04-2012.

100% of capital expenditure will be allowed to be deducted from the assessment year 2018-19 onwards

Note: If such specified businesses commence operations on or before 31-03-2012 but after prescribed dates, deduction shall be limited to 100% of capital expenditure.

Note: No deduction of any capital expenditure above Rs 10,000 shall be allowed where such expenditure is incurred in cash.

17. 35AD Deduction in respect of expenditure on specified businesses, as under:

a) Laying and operating a cross-country natural gas or crude or petroleum oil pipeline network for distribution, including storage facilities being an integral part of such network;

b) Building and operating, anywhere in India, a hotel of two-star or above category;

c) Developing and building a housing project under a scheme for slum redevelopment or rehabilitation

d) Setting up and operating an inland container depot or a container freight station

e) Bee-keeping and production of honey and beeswax

f) Setting up and operating a warehousing facility for storage of sugar

g) Laying and operating a slurry pipeline for the transportation of iron ore

h) Setting up and operating a semi-conductor wafer fabrication manufacturing unit

i) Developing or maintaining and operating or developing , maintaining and operating a new infrastructure facility

(Subject to certain conditions)

100% of capital expenditure incurred for the purpose of business is allowed as deduction provided specified businesses commence operations on or after the prescribed dates.
18. 35CCC Expenditure (not being cost of land/building) incurred on notified agricultural extension project for the purpose of training, educating and guiding the farmers shall be allowed as deduction, provided the expenditure to be incurred is expected to be more than Rs. 25 lakhs (Subject to certain conditions). 100% of the expenditure (Subject to certain conditions)
19. 35CCD Expenditure incurred by a company (not being expenditure in the nature of cost of any land or building) on any notified skill development project is allowed as deduction (Subject to certain conditions). 100% of the expenditure (Subject to certain conditions)

Note: (i) No deduction shall be allowed to a company engaged in manufacturing alcoholic spirits or tobacco products.

D. Under the head Capital Gain
Particulars
Section 54
Section 54B
Section 54D
Section 54EC
Section 54EE
Section 54F
Eligible taxpayer
Individual and HUF
Individual and HUF
Any person
Any person
Any Person
Individual and HUF
Capital gains eligible for exemption
Long-term
Short-term or Long-term
Short-term or Long-term
Long-term
Long-term
Long-term
Capital gains arising from transfer of
Residential House property
Agriculture land used by taxpayer or by his parents or HUF for agriculture purposes in last 2 years before its transfer
Compulsory acquisition of land or building forming part of industrial undertaking (which was used for industrial purposes for at least 2 years before its acquisition).
Long-term capital asset (being Land or Building or both)
Any long-term capital asset
Any long term asset (other than a residential house property) provided on date of transfer taxpayer does not own more than one residential house property (except the new house)
Assets to be acquired for exemption
One residential house property
Or
Two residential house properties
Note:
With effect from Assessment Year 2020-21, a taxpayer has an option to make investment in two residential house properties in India. This option can be exercised by the taxpayer only once in his lifetime provided the amount of long-term capital gain does not exceed Rs. 2 crores.
Agricultural land (may be in urban area or rural area)
Land or building for shifting or reestablishing said industrial undertaking
Bond of NHAI or REC, etc.
Units of such fund as may be notified by Central Government to finance start-ups
One residential house property
Time limit for acquiring the new assets
Purchase: within 1 year before or 2 years after date of transfer
Construction: within 3 years after date of transfer
Within 2 years after date of transfer
Within 3 years from date of receipt of compensation
Within 6 months from date of transfer
Within 6 months after the date of transfer of original asset
Purchase: within 1 year before or within 2 years after date of transfer
Construction: within 3 years after date of transfer
Exemption Amount
Investment in new assets or capital gain, whichever is lower
Investment in agricultural land or capital gain, whichever is lower
Investment in new assets or capital gain, whichever is lower
Investment in new assets or capital gains, whichever is lower, however, subject to Rs. 50 lakhs in a financial year.
Investment in new assets or capital gains, whichever is lower, however, subject to Rs. 50 lakhs.
Investment in new assets X capital gain/net consideration
Withdrawal of exemption
If new asset is transferred within 3 years of its acquisition
If new asset is transferred within 3 years of its acquisition
If new asset is transferred within 3 years of its acquisition
If new asset is transferred or it is converted into money or a loan is taken on its security
within 5 years of its acquisition
If new asset is transferred within a period of 3 years from the date of its acquisition.
Note:
Where assessee takes loans or advance on security of such specified asset, he shall be deemed to have transferred such asset on the date on which such loan or advance is taken.
a) If new asset is transferred within 3 years of acquisition,
b) if another residential house is purchased within 2 years of transfer of original asset;
c) if another house is constructed within 3 years of transfer of original asset
Deposit in Capital gains deposit scheme before due date under Sec. 139(1)
Yes
Yes
Yes
No
No
Yes

Capital Gain Account Scheme 1988

a) The scheme is open to all taxpayers, who wish to claim exemption under Sections 54, 54B, 54D, 54F, 54Gor 54GB.

b) If taxpayer could not invest the capital gains to acquire new asset before due date of furnishing of return, the capital gains can be deposited before due date for furnishing of return of income in deposit account in any branch of a nationalized bank in accordance with Capital Gain Account Scheme 1988.

E. Under the head Income from other sources

1. 56(2)(vii) Any sum of money or immovable property or movable property received without consideration or for inadequate consideration from a relative or member of HUF (subject to certain conditions and circumstances) [on or after 01-10-2009 but before 01-04-2017] The whole amount received from specified relatives or in specified circumstances shall not be included in taxable income. Individual and HUF
1A. 56(2)(x) Any sum of money or immovable property or movable property received without consideration of for inadequate consideration*** from any person. [on or after 01-04-2017]

*** in case of immovable property, ‘inadequate consideration’ shall mean difference between stamp duty value and actual consideration, if it exceeds Rs. 50,000 or amount equal to 10% of consideration, whichever is higher.

Note:

(1) Any sum of money received by an individual, from any person, in respect of any expenditure actually incurred by him on his medical treatment or treatment of any member of his family in respect of any illness related to COVID-19, shall not be considered as income of such person. (subject to certain conditions)

(2) Any sum of money received by family member of a person who died due to COVID-19, the money so received shall not be considered as income of the family member where such money is received from the employer of deceased person. Where the money is received from any other person or persons, the exemption amount shall be limited to Rs. 10 lakh in aggregate. (subject to certain conditions)

The whole amount received from specified relatives or in specified circumstances shall not be included in taxable income. Any person
2. 57(iia) Standard Deduction for family pension 33.33% of Family Pension subject to maximum of Rs. 15,000 Individual

[As amended by Finance Act, 2022]

 


(Republished with Amendment, Source -Income Tax Website)

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More Under Income Tax

39 Comments

  1. Raghuram says:

    Sir
    Allowance termed as “Telephone allowance” can it be exempted under any section under income tax if proper bills or document proof is submitted ?
    pl. clarify
    Regards
    Raghuram R

  2. KINJAL PATEL says:

    What is the maximum limit for washing allowance to give high skilled employees?? our employee’s salary are 23000 to 28000 gross and we want to deduct ESIC, but max cab is 21000 than, is it possible to deduct esic from their salary ?? i need your legal and professional advice.

  3. A Rajya lakshmi says:

    I purchased an old flat recently. I am a housewife having income from fishpond.
    The fish ponds leased.
    Kindly clarify
    1. Is the income on fish ponds exempted from I income tax.
    2. Is the expenditure on repairs and maintenance exempted from income tax . If so details please

  4. Randeep Singh says:

    Hi
    I am an employee in a private organization. This year my organization has deducted a security deposit equal to the salary of two months. My quiry is that am I liable to pay TDS on the salary of two months which is lying as security deposit with my employer or I have to pay TDS on the salary of 10 months which is actually I am getting this financial year.

  5. Deepak Chauhan says:

    Dear Sir,
    Please suggest

    *arrears of counter insurgency allowance under section 10(14)ii is fully taxable or taxable with some exemption. if exemption is available then how to claim that exemption.
    Regards
    Deepak Chauhan

  6. Anjali says:

    Kindly let me know if pilotage amount received by a navigation officer in Indian Navy (Central govt) , is taxable? As it’s not a monthly salary but a kind of an allowance received by navigation officer for sailing.. Kindly confirm, please

  7. TAPAN CHETRY says:

    Please, confirm, whether Ration Money allowance paid to CAPF personnel in lieu of free ration are taxable or not. if not kindly attache order copy.

  8. srinivas says:

    Army Personals will get Ration money monthly 3300/- will it be exempted fully from income tax? if yes under which section ?
    please clarify the same.

  9. Raghunandan Magotra says:

    under what provisions of law

    3. – Compensatory allowance received by a Judge under article 222(2) of the Constitution Fully Exempt Individual – Judges

    I need legal provisions regarding it

  10. RAJA says:

    FY 18-19 HOW MUCH AMOUNT DEDUCTED FOR THE MANIPUR STATE FOR THE BELOW MENTIONED ITEAMS 1) COMPENSATORY MODIFIED FIELD AREA ALLOWANCE 2) PROJECT ALLOWANCE 3) CONVEYANCE EXEMPTION
    please send me the details

  11. nishu kumar says:

    is monthly maintenance allowance directly deducted and diverted by the employer (army authorities) from monthly salary of husband (army personnel) and paid to his wife, exempted from deduction of tax in respect of husband and if yes, under which provisions/act/section of law. please reply urgently.

  12. Sambit says:

    Sir,
    I would like to know regading the exemptions under NPS Tax Benefits and sections 80CCD(1), 80CCD(2) and 80CCD(1B)

    1.If i have a total nps contribution of Rs 80000,and LIC Rs.60000,PPf :Rs.50000 i.e. total is RS 190000 and exxemption under 80 C :-150000,then the rest Rs.40000 can be shown in 80CCD(1B) or not

    or 80CCD(1B) will only consider the voluntary contribution by the employee upto Rs 50000.

    2.What is the exemption for TA & SDA & HCA for the A.Y.2018-19

  13. Dharmender Kumar says:

    I am a govt. employee and drawing ration money allowance. Is ration money allowance exempted from income tax. If yes under which section?

  14. J N BAJPAI says:

    I am a salaried person and get Rs. 30000/- PA as conveyance allowance. Distance of my office to home is 20 KM approx. Thus my annual expenditure on conveyance is Rs.40000 to Rs.45000.
    Is above conveyance allowance exempt from income tax ?

  15. k ing says:

    any judges is exeption sumpatory allowance and medical allowance and Compensatory allowance and surrender leave and additional pay
    please clearified

  16. G Sridhar says:

    I have a query
    I get fixed allowance of Rs 800 per month towards news papers etc. I work in Bank. To keep my self abrest with happenings in Financial Sector, I need to read news papers. I purchase news papers worth 500/- every month.
    Can I decuct/ claim expenses for the news papers purchased. If yes, how Can I do It?

  17. Rajiv Mehta says:

    Dear Sir,

    I have a will from my father.
    based on the will i got my name endorsed in Water, electricity and MCD records.
    HOw this property is taxed or to be declared?

  18. vikrant bhardwaj says:

    CAN I GET THE EXEMPTION OF Distinguish SEWA AWARD IF I GET A CASH INCENTIVE FROM MY EMPLOYER FOR SPECIFIC SEWA KINDLY SUGGEST ME BETTER VIkrant bhardwaj

  19. anita bhattacharya says:

    If a person is not being paid any LTA, can IT exemption be claimed for the expenditure incurred by him from his own take home pay to travel on a holiday?

  20. manish jain says:

    Can a salaried person claim exemption of Transport Allowance as well as Conveyance Allowance for the Assessment year 2017-18

  21. suresh Kumar says:

    It is requested to I am working in Anti Corruption Bureau, Telangana I am receiving special pay 30% of basic pay, this special pay is taxable or exempted as per the Income Tax ACt.

  22. sam says:

    I was sponsored by Company A for a academic program under a 2 year bond, now i want to join company B which is ready to pay this amount to me so that i can return to company A. Company B is deducting TDS on the payout and not treating it as reimbursement under Section 10 Rule 2BB since the fee was paid to the institute directly by company A.

    What are the conditions to avail the above clause, can this be transferred from old employer to new employer.

    Please guide me in this case.

  23. exemption for Veterinary product under VAT, IT act, and ST says:

    pls send me details about exemption for veterinary product under vat, ST, and income tax act if any

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