Exempted allowances under salary
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
31 January 2012
Please clarify whether amount spent on buying books for knowledge updation is exempted from income tax.
or
Only particular books purchased for Research is exempted.
or
Only particular books purchased for Research is exempted.
31 January 2012
The allowance is called as professional development allowance.
It should be given by employer to employee and the employee should have expended the same.
hence exemption for this allowance is
1. allowance given by employer
2. amount expended by employee
whichever is less.
if the employer is not giving the allowance then employee can not claim the exemption.
For claiming exemption under this section the books should be related to the subject with which company is working. Like for IT company employee, the book should be of any subject like java or c++ or .net.
It should be given by employer to employee and the employee should have expended the same.
hence exemption for this allowance is
1. allowance given by employer
2. amount expended by employee
whichever is less.
if the employer is not giving the allowance then employee can not claim the exemption.
For claiming exemption under this section the books should be related to the subject with which company is working. Like for IT company employee, the book should be of any subject like java or c++ or .net.
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Querist : Anonymous
Querist :
Anonymous
(Querist)
31 January 2012
Thanks rushikesh,
Receipt from the Book shop is sufficient to claim exemption or anything else we should submit to employer?
Receipt from the Book shop is sufficient to claim exemption or anything else we should submit to employer?
31 January 2012
Invoice and receipts from books shop is enough for claiming the exemption
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