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Allowance

This query is : Resolved 
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(Querist)
30 July 2014 AN EMPLOYEE HAD SHIFTED FROM ONE CITY TO ANOTHER CITY SO COMPANY HAD PROVIDED HIM RESETTLEMENT ALLOWANCE...???
SO WHETHER THAT RE-SETTLEMENT ALLOWANCE IS EXEMPT OR NOT ????
IF YES THEN UPTO WHAT EXTENT...???
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CA Mohit Bansal

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CA Mohit Bansal (Expert)
30 July 2014 It is fully taxable and no exemption from income tax is available
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Vishnu Saboo

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Vishnu Saboo (Expert)
30 July 2014 i think this must be exempted upto actuall expenses incurred.
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CA Mohit Bansal

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CA Mohit Bansal (Expert)
30 July 2014 If it is in form of allowance then it is fully taxable but if your employer has named as it as reimbursement then exemption would be available up to the actual amount incurred
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Vishnu Saboo

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Vishnu Saboo (Expert)
31 July 2014 Yes, Agreed with Mr Mohit Bansal
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Vishnu Saboo

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Vishnu Saboo (Expert)
31 July 2014 Yes, Agreed with Mr Mohit Bansal
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