Pawan Kr. Tomar (CA) (169 Points)
23 June 2010Hello friends,
Can anyone help me in providing details of tax benefit (if any) available on the following (for salaried person only) with specified limit?
1. Attire Allowance ( Reimbursement against purchase / maintenance of office attire)
2. Gift (Reimbursement towards purchase of Gifts on - birthday / anniversary/ diwali)
3. Telephone ( Reimbursement towards residence telephone bills)
Thanks
Amir
(Learner)
(4016 Points)
Replied 23 June 2010
Hi Pawan,
1) Attire allowance or Uniform allowance - exemption is available u/s 10(14) tothe extent of actual expenditure
2) Reimbursements of Gift - entire taxable (actual gift not exceeding Rs. 5,000 in value during the entire year are exempt)
3) Reimbursement of telephone bills of residence -entire taxable (u can look for having a telephone connection in the name of employer then it will be exempt)
DT Fundas - Tarun rustagi
( Author)
(1150 Points)
Replied 23 June 2010
dear pawan
amir bhai is right.
cash gift are fully taxable whether below 5000 and for gift in kinds u can claim benefit upto rs. 5000 as in ur case.
regards
tarun rustagi
DT Fundas - Tarun rustagi
( Author)
(1150 Points)
Replied 23 June 2010
dear pawan
amir bhai is right.
cash gift are fully taxable whether below 5000 and for gift in kinds u can claim benefit upto rs. 5000 as in ur case.
regards
tarun rustagi
CAclubindia
