If one person had a job in a company for 1 month & 12 days & getting transport Allowance rs.2000 per month & got rs.2775[200+2000*12/31)]then how much amt will be exempted in Form -16 u/s 10(14).whether 800 or 1600 or Proportionally i.e. 1109[800+(800*12/31)]
16 November 2007
The exemption availability of Rs 800 is for the full one month. Therefore, for the proportionate month of employment the exemption will also be given in proportion only
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