27 July 2010
As per my knowledge, the following allowances are exempted from tax while computing the income from salary in the normal cases. 1. HRA 2. Conveyance allowance - Rs. 800 pm 3. Medical Allowance - Rs. 1250/- pm 4. Telephone expenses and fuel expenses used for office purpose reimbursed by the company 5. Food allowance like Sodexho passes to the extent of Rs. 2000/- pm 6. Children education allowance (Rs. 100 pm) and hostel expenditure (Rs. 300/-)for 2 children
I came to know that some companies give to the employees basket of allowances over and above those mentioned above which are not taxable. Can anyone please tell me whether there are any other allowances which are exempted.
27 July 2010
THERE ARE LOTS OF ALLOWANCES AVAILABLEUNDER THE HAEDS OF SALARY. lIKE TRANSPORT ALLOWANCES- 800 PM, TOUR & TRAVEL EXP, UNIFORM ALLOWANCES, IT IS BETTER TO CHECK INCOME FROM SALARY FROM ANY BOOKS.
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