EXEMPT ALLOWANCES

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This query is : Resolved

ATUL (Querist)

11 October 2008 Dear all,

what are the maximum exemption in the following allowances

1) house rent allowances

2) conveyance allowances

3) washing allowances

4) education allowances

5) and the last is contributation to employees state insurance is it exempt while calculating salary chargebale to income tax

Thanks

Atul

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)

11 October 2008 House rent allowance not to be included in the total income shall be---
1) the actual amount of such allowance received or
2)the amount by which the expenditure actually incurred in payment of rent exceeds one tenth of salary or
3)an amount equal to one half of salary if accommodation is at bombay,delhi, madras or calcutta and if accommodation is at any other place two-fifth of salary
whichever is least of 1),2)and 3)

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)

11 October 2008 Conveyance allowance u/10(14)--
Rs.800/- per month
Rs.1600/- per month if blind or orthopaedically handicapped.

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