21 March 2018
Hon'ble FM in his Budget Speech has withdrawn deduction towards trasnport allowance @ Rs. 19,200/-. However, such withdrawal has not been found in Finance Bill, 2018. Please clarify.
21 March 2018
Proviso (v) is as below: any sum paid by the employer in respect of any expenditure actually incurred by the employee on his medical treatment or treatment of any member of his family other than the treatment referred to in clauses (i) and (ii); so, however, that such sum does not exceed fifteen thousand rupees in the previous year;
Thus, clause 8 on page 8 of bill is just in relation to medical expense reimbursement not for transport allowance.
Transport allowance is exempt u/s 10(14) r.w.rule 2BB. There is no specific mention for withdrawal with reference to section 10(14) or Rule 2BB.
21 March 2018
because the amendments to rules are not published with the budget proposals. It is covered in the memorandum though. refer http://www.indiabudget.gov.in/ub2018-19/memo/memo.pdf
Once the updated rules are published, the changes would reflect therein.
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