Exempt income
This query is : Resolved
uday chudasama
(Querist)
27 October 2014
what is exempt income?
if income is partially exempt ,the portion of the income which is exempt ,it is covered in exempt income or not??
eg. conveyance allowance exempt upto 9600p.a nd the assessee received conveyance of Rs.12000 p.a
pls in this case should 9600 covered in exempt income or not for ITR purpose ???
CA R SEETHARAMAN
(Expert)
27 October 2014
Exempt income is fully exempt income, like dividend income, long term capital gains from shares, gift from relatives Etc.
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