Kindly give experts' comments:-
Employer is paying the following allowances in addition to other salary and allowances, but they are not allowing exemptions while calculating income tax on these :-
1. Medical allowance (less than 15000/-)
2. Leave Travel Allces
3. Special Allce
4 Supplimentry Allowances.
I think the above are exempted under sec 10 and 17. Kindly clarify quoting relevant sub sec so that employer can be informed. Please give Priority.
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Taxable income
Replies (4)
Medical Allowance and LTA are exempt only if you submit Bills worth Rs. 15,000 and Travel tickets respectively
Thanks sir, but what about special allowances (3 and 4 above)
Dear KK, Same is taxable.
Sir, As per sec 10 sub sec 14(I) & (ii) certain special allowances are tax free. Is it NOT applicable to the cases of Special Allowances as mentioned above? If you could please guide me which special allowances are tax free.
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