Dear All,
Some of our employees received daily allowance (in $ ) during their training session in abrod. My Question is These allowances are Taxable, if taxable how to calculate the Tax Liability.
2 Replies
GAURAV BEHL
(CA-FINAL )
(228 Points)
Replied 27 November 2009
yes these allowances are taxable.you can calculate the amount paid as daily allowance by converting it into equivalent inr at an average conversion rate. and add that in the income of the employee to calculate tds
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