Professional jouranal allowance

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Querist : Anonymous

Querist : Anonymous (Querist)

21 May 2013 Professional Journal allowance : An amount of 12,000 per annum is tax-free.

is above statement is correct?

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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23 June 2013 Allowance which given for improve employees` education or training and for his job requirement is exempted from tax. hence finance professional getting allowance for professional journal allowance is tax free

C A S.S.Agarwal, M.Com.,LL.B,

C A S.S.Agarwal, M.Com.,LL.B, (Expert)
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07 July 2013 Any payment in the nature of allowance is taxable and certain percentage is allowable to employees u/s 10(14) or 10(13A) but any payment in the nature of reimbursement is not taxable if it is within the limit.
Since the book allowance is given it is taxable as there is no provision in present act to allow allowance as tax free for books or journal. Instead it can be reimbursement against journal and books.

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