CA.Varalakshmi.M (Manager-Finance) (482 Points)
31 July 2012Hi frds ,
Please guide me the taxability of following heads
BASIC
House Rental Allowance
City Compensatory
Special Allowance
Medical Facility
Lunch Refreshment
Transport Allowance
(Please answer by writing either taxable or not taxable or taxable after some limits or formula ex: HRA)
Ritesh khurana
(CA student)
(175 Points)
Replied 31 July 2012
Basic - Taxable without limit
HRA :- Exempt amount is
1. Actual HRA received
2. Rent -10% of Salary
3. 40% or 50% of salary
Whichever is less
CCA - Taxable
Special allowance - Exempt only to employees engaged with transport company up to Rs 10000 pm
Medical facility - Exempt up tp Rs 15000 pa
Refreshment - Exempt if provide during official hours
Meal - Taxable if amount of per meal exceed Rs 50
Transport allowance - Rs 800 pm for physically handicap - Rs 1600 pm
Thanks
Archana Das
(CA Final student)
(622 Points)
Replied 31 July 2012
| Originally posted by : Ritesh khurana | ||
 |
Basic - Taxable without limit HRA :- Exempt amount is 1. Actual HRA received 2. Rent -10% of Salary 3. 40% or 50% of salary Whichever is less CCA - Taxable Special allowance - Exempt only to employees engaged with transport company up to Rs 10000 pm Medical facility - Exempt up tp Rs 20000 pa from AY 12-13 Refreshment - Exempt if provide during official hours Meal - Taxable if amount of per meal exceed Rs 50 Transport allowance - Rs 800 pm for physically handicap - Rs 1600 pm Thanks |
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