Whether Shifting Expenses (Transfer Expenses) received from New employer is exempt from tax or not.
Before giving answer please read Section 10(14) read with rule 2BB
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Transfer expenses
Replies (2)
Its exempt. Not too sure.
As per Sec. 10(14) read with Rule 2BB (1)
(a) Any allowance granted to meet the cost of travel on tour or on transfer
(b)....
so it can be said that any amount received for transfer expenses (shifting expenes) shall be exempted.
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