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Academic allowance

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Querist : Anonymous

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Querist : Anonymous (Querist)
16 May 2013 Dear Experts,
Please clarify the Academic allowance paid to employee is a exempted allowance? the academic allowance should used for research and training of the employee?
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Guest (Expert)
16 May 2013 As per Rule 2BB of income tax act, academic allowance is exempted if following is satisfied.

Academic allowance should be used by the employee for his academic research and training purposes.

If he utilized the in above manner.

Allowance received by employee
Less: Expenditure incurred for academic official performance
(Expenditure deducted can not exceed allowance recieved)
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C A S.S.Agarwal, M.Com.,LL.B,

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C A S.S.Agarwal, M.Com.,LL.B, (Expert)
02 July 2013 The expert is correct but you should also see the children education allowance which is covered by section 10(14)
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