Allowances

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Sanat (Querist)
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29 January 2014 suppose a person gets travelling allowance of 1 lac and the actual expenditure came to 2 lac .... so what amount would be exempted ?? 1lac or 2 lac?

CA Mohit Bansal

CA Mohit Bansal (Expert)
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29 January 2014 Rs. 1 Lac would be taxable as traveling allowance is not exempt under IT

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