Managing Director is drawing 1200000/- as remuneration per anum upto now we are showing deductions as Dress allowance @ 2000/- per month, Conveyance @ 3000/- per month, Books & Periodicals @ 1000/- per month and Transport allowance 9600/- per anum is there any other allowances can be calimed in the IT Returns please Suggest
25 July 2012
Allowances need to be claimed based on your Salary structure only. please look in to the salary structure and check the taxability of the same. you cannot decide that in ITR
CAclubindia
