05 April 2018
As you are all aware budget for 2018 has been enacted. Transport allowance Rs.19200/- ( Rs.1600 X 12) earlier exempt from Tax . However, as per new finance act the exemption has been withdrawn. Can any one help me in finding out the amendment in the official gazette with the relevant section.
05 April 2018
For 2018 Standard deduction of Rs.40000/- introduced eplaces medical allowance of Rs 15,000 and transport allowance of Rs 1600 per month i.e. 19,200 per annum, the effective additional benefit on account of the standard deduction would be an additional income exemption of Rs 5,800.
05 April 2018
Yes... I agreed to Mr KAVIRAJA ADDANGADI Sir..
Also we can get additional benefit Rs 5800 as per New Amendment...
By
RAJA P M
Querist :
Anonymous
Querist :
Anonymous
(Querist)
05 April 2018
Thank u so much, Rule 2BB(2). The exemption provided under s.no.10.However withdrawal of exemption not mentioned in proviso. Kindly clarify.
Querist :
Anonymous
Querist :
Anonymous
(Querist)
06 April 2018
Finance Act missed to amend Rule 2BB(2). A separate notification may be given effecting the same.