SALARY
This query is : Resolved
19 June 2016
Raman is a engine driver in Indian railways. Is Raman a govt employee or not?
one of his Sons in staying in hostel on which Raman spending rs.800 pm. He is getting 500 pm for his son as hostel allowance for meeting this expenditure?
calculate hostel allowance?
19 June 2016
Hostel expenditure allowance is granted to an employee to meet the hostel expenditure on his child. It is exempt from tax to the extent of Rs. 300/- per month per child up to a maximum of two children.
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19 June 2016
Raman is govt employee or not?
19 June 2016
Yes He is Govt. Employee
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19 June 2016
sir
the amount 300 is deduct from 800 or 500?
20 June 2016
Max. 300/M per child max. up to two children
20 June 2016
I know sir that the max amount 300p.m. would be exempt for two children.
I am asking how much taxable?
20 June 2016
While Calculating Salary Taxability, Gross Salary will be your gross receipts and from them sec.10 will deducted as exempted deduction where you have to write 300/M as deduction. in short whatever amount received as allowances which were added to your gross salary on which exempted amount is Max. 300/M.
i.e. 500-300 = 200 taxable
i.e. 500-300 = 200 taxable
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