CAN ANY BODY PLEASE CLARIFY WHETHER READER ALLOWANCE RECEIVED BY VISUALLY HANDICAPPED EMPLOYEE IS TAXABLE UNDER SALARIES ? iF EXEMPTED , PLEASE QUOTE RELEVANT SECTION OR PROVISION !
CA Siva Kishore (M.COM, F.C.A.) (716 Points)
17 June 2008CAN ANY BODY PLEASE CLARIFY WHETHER READER ALLOWANCE RECEIVED BY VISUALLY HANDICAPPED EMPLOYEE IS TAXABLE UNDER SALARIES ? iF EXEMPTED , PLEASE QUOTE RELEVANT SECTION OR PROVISION !
CA. Atindra A. Prabhu Bhatikar
(practising CA)
(68 Points)
Replied 18 June 2008
There is no specific prov for exemption of such an allowance. U can claim the deduction under sec 80 U of the Income Tax Act subject to fulfilment of the conditions specified therein.