Allowances under salary income
Lovepreet Mittal (1 Points)
14 July 2024
sir if we receive travel allowance every month then it is exempt or not? if exempt then how much claim
4 Replies
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(178301 Points)
Replied 14 July 2024
No, now it is not exempt.
MPR Sanjay Kumar
(3118 Points)
Replied 14 July 2024
Honourable dhirajlal rambhia sir , Leave travel allowance and leave encashment allowance whether taxable or non taxable please explain with each thing and how it applicable for old tax regimen new tax regime
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(178301 Points)
Replied 14 July 2024
Encashment of Leave travel allowance while on duty is taxable, but on retirement is tax-exempt subject to max. limit of 25 lakhs.
sabyasachi mukherjee
(27579 Points)
Replied 14 July 2024
Allowances are taxable barring few exceptions
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