Dear sir,
Exempted amount can be directly minus/less from Gross income
Like- HRA,LTA,Trans. Allowance, Special Area Allowance, etc
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EXEMPTED AMOUNT CAN BE DIRECTLY MINUS FROM GROSS INCOME
Replies (4)
The allowances as specified above are deductible from salary income, subject to its limits, and other conditions as specified under the IT act.
Thank you sir, I am a salaried person.
So, check your form 16A, it will give complete details about the amount deductible under each sub-section.
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