Academic & Research Allowance

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yogi (Querist)
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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?

CA MANOJ GUPTA

CA MANOJ GUPTA (Expert)
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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

yogi

yogi (Querist)
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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

CA MANOJ GUPTA (Expert)
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01 June 2011 THERE IS NO LIMIT BUT THE EXP MUST HAVE BEEN INCURRED SO KEEP UR BILLS READY

yogi

yogi (Querist)
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01 June 2011 Ok...thanks

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