Relating taxable salary
Naval sunal (student) (56 Points)
02 February 2016Naval sunal (student) (56 Points)
02 February 2016
Udgam Koomar
(Tax Technologist)
(1949 Points)
Replied 02 February 2016
The limit for theallowance is Rs. 15,000. The limit for reimbursements is Rs. 15,000
Vikas Gupta
(Tax Executive)
(530 Points)
Replied 02 February 2016
Medical Allowance is fully taxable. However, medical facility (in some cases), if any provided by the employer is exempted upto Rs. 15000 agst bills produced by employee.
PREETI GAUTAM
(Article in ca firm)
(23 Points)
Replied 02 February 2016
I have a doubt regarding the meaning of "in arrears" as per section 89(1) of the Income Tax act 1961?
Rajesh Kumar Gupta
(Senior Divisional Manager)
(714 Points)
Replied 02 February 2016
CA PRAVEEN PACHALAG
(CA )
(208 Points)
Replied 03 February 2016
CA PRAVEEN PACHALAG
(CA )
(208 Points)
Replied 03 February 2016
Vikas Gupta
(Tax Executive)
(530 Points)
Replied 03 February 2016
Any sum(s) received in arrear will be taxed in the year of receipt if the same has not taxed earlier. For claiming tax rebate u/s 89(1), tax is first computed on total income including such arrears and then tax is computed on total income excluding such arrears. The difference, if any in positive may be claimed u/s 89(1).
Pls read the section 89(1) throughly for this purpose.
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