Dear All,
Qualification allowance paid to employees is exempt from tax or its a part of taxable income?
And if, its exempt then how much?
We have paid Rs. 2,000/- pm, is it allowawble or not?
2 Replies
Sonam Bidasaria
(CA)
(770 Points)
Replied 18 July 2013
There is no mention of any such allowance in Income Tax Act, 1961. Hence, it will form part of Salary and shall not be exempted.
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