Mohit Sharma (CA Final & CS Executive) (69 Points)
10 January 2010
Hi
I want to know that what is the meaning of grade pay,B. R. Allowance, and what is the treatment of all these earnings in income tax.
Amir
(Learner)
(4016 Points)
Replied 11 January 2010
Dear Mohit,
As per Income tax there is no special treatment for"Grade Pay", i:e Entire amount is Taxable.
ALL other Allowances except those mentioned in Sec 10 are fully taxable...
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