My employer bears the cost of my travel and any expenses incurred during the trip [for business trips]
And he also gives me an allowance for taking personal trips in a year.
What of this will I have to pay tax on?
Ria (Student) (69 Points)
26 January 2024My employer bears the cost of my travel and any expenses incurred during the trip [for business trips]
And he also gives me an allowance for taking personal trips in a year.
What of this will I have to pay tax on?
Saravanan nagaraj
(463 Points)
Replied 26 January 2024
The tax exemption limit for transport allowance was Rs. 1,600 per month (Rs. 19,200 annually) based on previous regulations. If the received amount is above this exemption limit, the excess amount is taxable.
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 26 January 2024
Sharath chandra
(Accountant)
(1227 Points)
Replied 27 January 2024