Academic & Research Allowance
This query is : Resolved
01 June 2011
I get Academic & Research Allowance of Rs 2,500 pm as per terms of my appointment letter.
Background: I am professor pursuing PhD program and teaching in MBA college at GRTr Noida. I buy books, pay fees for Phd and incur other expenses on research.
Question: Can I take exemption of this amount against my fees paid, bills of book purchased, research expense. etc. If yes , how much max limit?
Background: I am professor pursuing PhD program and teaching in MBA college at GRTr Noida. I buy books, pay fees for Phd and incur other expenses on research.
Question: Can I take exemption of this amount against my fees paid, bills of book purchased, research expense. etc. If yes , how much max limit?
CA MANOJ GUPTA
(Expert)
01 June 2011
ANY ALLOWANCE SPECIFICALLY GRANTED TO MEET EXPENSES WHOLLY ,EXCLUSIVELY AND NECESSARILY INCURRED FOR PERFORMING DUTIES IS EXEMPT
U CAN CLAIM EXEMPTION UNDER SECTION 10(14)(i)
CA MANOJ GUPTA
JODHPUR
09828510543
U CAN CLAIM EXEMPTION UNDER SECTION 10(14)(i)
CA MANOJ GUPTA
JODHPUR
09828510543
01 June 2011
thnak you for your reply...is there any limit? can i take full amount as exemption? Employer hasn't demanded any receipts on this
CA MANOJ GUPTA
(Expert)
01 June 2011
THERE IS NO LIMIT BUT THE EXP MUST HAVE BEEN INCURRED SO KEEP UR BILLS READY
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