01 June 2011
I get Academic & Research Allowance of Rs 2,500 pm as per terms of my appointment letter.
Background: I am professor pursuing PhD program and teaching in MBA college at GRTr Noida. I buy books, pay fees for Phd and incur other expenses on research.
Question: Can I take exemption of this amount against my fees paid, bills of book purchased, research expense. etc. If yes , how much max limit?
01 June 2011
ANY ALLOWANCE SPECIFICALLY GRANTED TO MEET EXPENSES WHOLLY ,EXCLUSIVELY AND NECESSARILY INCURRED FOR PERFORMING DUTIES IS EXEMPT U CAN CLAIM EXEMPTION UNDER SECTION 10(14)(i)
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