Allowance under Proprietor
This query is : Resolved
Mohd Sarfaraz Latibani
(Querist)
16 December 2008
What are the allowance I can pay to my employees under proprietor ship business and that allowance should be exempted from tax.
Thanks.
Thanks.
CA Tilak Raj Sharma
(Expert)
16 December 2008
There is no different rule of prop. business for paying salaries. However You can include the following allowances:
HRA - needs calculation
Transport Allowance - exempted 800 p.m.
Uniform Allowance - actual expenditure by employee
Reimbursement of medical bills - exempted upto 15000 per year
LTC - Exempted 2 times in a block of 4 years. Exemption - actual expenditure.
HRA - needs calculation
Transport Allowance - exempted 800 p.m.
Uniform Allowance - actual expenditure by employee
Reimbursement of medical bills - exempted upto 15000 per year
LTC - Exempted 2 times in a block of 4 years. Exemption - actual expenditure.
CA Parvin Ahuja
(Expert)
16 December 2008
As far as exemptions of allowances to employees are concerned constitution of the employer is of no significance.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Gst credit note by supplier
- Reward for festival
- 18% Rent a cab
- Missed uploading GST Invoice
- Movement of goods by packers and movers - type of sale - Reg.
- RCM and same line
- Accounting Treatment of Civil work to install PORTA Cabin for office use
- TDS Return Statement Status
- Closer of business and itc of capital goods
- Appointment of Auditor By Form ADT-1
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
- How to get money back from delisted company
- ITC not to be taken in accounts & GSTR-3B
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
