Alex Sharma (CA & ICWA Final student; CS & CFA completed) (194 Points)
28 March 2010Rs.800 p.m is exempted.
to Claim the exemption, is it necessary for the Salary Sheet to reflect the Transport / Conveyance Allowance Separately?
or It can always be claimed??
CA Babit Khurana
(learning is my passion)
(338 Points)
Replied 28 March 2010
As per section 10(14) of income tax Act,1961 you can take exemption of transport allowance
1) it is not 800 p.a. but 800 p.m i.e 9600 p.a., it is necessary to show while computation of taxable salary, when you file return for the same you will find a special place to fill, allowance which is exempt under section 10 of I .T. Act,1961.
Vivek Jarial
(Student)
(272 Points)
Replied 28 March 2010
yeh iam agree with babit khurana you can take exemption Rs800 pm
Alex Sharma
(CA & ICWA Final student; CS & CFA completed)
(194 Points)
Replied 28 March 2010
I.e i Can Claim the Exemption under Any circumstance, right?
Even if My salary Sheet shows a Consolidated Gross Pay...........
Pls Confirm
Vivek Jarial
(Student)
(272 Points)
Replied 28 March 2010
you can only take the exemption if company give u transport allowance and it is shown in the salary sheet.
C.Balaji
(Learner)
(1867 Points)
Replied 29 March 2010
Dear Alex..........
You can claim exemption - Tansport allowance of Rs.800 p.m. only when Transport allowance is paid by the company/employer........
Sushil
(CA Final Student)
(2571 Points)
Replied 29 March 2010
| Originally posted by : Babit Khurana | ||
 |
As per section 10(14) of income tax Act,1961 you can take exemption of transport allowance 1) it is not 800 p.a. but 800 p.m i.e 9600 p.a., it is necessary to show while computation of taxable salary, when you file return for the same you will find a special place to fill, allowance which is exempt under section 10 of I .T. Act,1961. |
 |
sivaram
(Asst Mgr-Taxation)
(6918 Points)
Replied 29 March 2010
It should be provided in your salary as a component then only exemption is possible and it is not automatic
Nomula Sreenivasarao
(DGM -Accounts)
(163 Points)
Replied 29 March 2010
you can claim the Transport allowance 800/- per month, if your salary structure reflect the same allowance, other wise you can't.
saranraj
(CA FINAL)
(419 Points)
Replied 29 March 2010
Only if it has been shown in the salary sheet.....
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