01 May 2010
if employer charges rs. 2000 to an outsider in his institite , & gives rs.500 concession to his employee children ( only one child )...what is the amount to be taxable in the hands of employee & amount to be exempted... plz reply.
01 May 2010
TAXABLE AMT= COST OF SUCH EDUCATION IN A SIMILAR INSTITUTION IN OR NEAR LOCALITY (-) 1000/- PM PER CHILD (-) AMT. PAID OR REC. FROM EMPLOYEE
CAclubindia
