Allowance under Proprietor
This query is : Resolved
16 December 2008
What are the allowance I can pay to my employees under proprietor ship business and that allowance should be exempted from tax.
Thanks.
Thanks.
16 December 2008
There is no different rule of prop. business for paying salaries. However You can include the following allowances:
HRA - needs calculation
Transport Allowance - exempted 800 p.m.
Uniform Allowance - actual expenditure by employee
Reimbursement of medical bills - exempted upto 15000 per year
LTC - Exempted 2 times in a block of 4 years. Exemption - actual expenditure.
HRA - needs calculation
Transport Allowance - exempted 800 p.m.
Uniform Allowance - actual expenditure by employee
Reimbursement of medical bills - exempted upto 15000 per year
LTC - Exempted 2 times in a block of 4 years. Exemption - actual expenditure.
16 December 2008
As far as exemptions of allowances to employees are concerned constitution of the employer is of no significance.
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