Academic & Research Allowance
This query is : Resolved
01 June 2011
I get Academic & Research Allowance of Rs 2,500 pm as per terms of my appointment letter.
Background: I am professor pursuing PhD program and teaching in MBA college at GRTr Noida. I buy books, pay fees for Phd and incur other expenses on research.
Question: Can I take exemption of this amount against my fees paid, bills of book purchased, research expense. etc. If yes , how much max limit?
Background: I am professor pursuing PhD program and teaching in MBA college at GRTr Noida. I buy books, pay fees for Phd and incur other expenses on research.
Question: Can I take exemption of this amount against my fees paid, bills of book purchased, research expense. etc. If yes , how much max limit?
01 June 2011
ANY ALLOWANCE SPECIFICALLY GRANTED TO MEET EXPENSES WHOLLY ,EXCLUSIVELY AND NECESSARILY INCURRED FOR PERFORMING DUTIES IS EXEMPT
U CAN CLAIM EXEMPTION UNDER SECTION 10(14)(i)
CA MANOJ GUPTA
JODHPUR
09828510543
U CAN CLAIM EXEMPTION UNDER SECTION 10(14)(i)
CA MANOJ GUPTA
JODHPUR
09828510543
01 June 2011
thnak you for your reply...is there any limit? can i take full amount as exemption? Employer hasn't demanded any receipts on this
01 June 2011
THERE IS NO LIMIT BUT THE EXP MUST HAVE BEEN INCURRED SO KEEP UR BILLS READY
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- ITC temporary reversal and reclaim
- Inventory of finished goods
- Applicable TDS rate for sale of property in Nov 2024
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- Disallowance of Section 43B(h) to sez units
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- Sale of property furniture sale
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- Clarification on Documentation of Paid-Up Capital Contribution by Directors
- Redevolpment of bldg in mumbai
- Refund of AY 22-23
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
Trending Online Classes
CAclubindia
