Exemption U/s.10
This query is : Resolved
S.Jegadeesan
(Querist)
27 January 2010
Dear Sir/Madam,
I wish to clarify on doubt relating to Exemtion U/s.10.i.e.I come to know
1.Any amount given by the employer towards Computer/Laptop allowance as exempt.
2.Food coupon issued by employer is also exempt from tax.Is it really allowed by the dept?
If so what is the maximum Limit of each allowance?
S.jegadeesan
I wish to clarify on doubt relating to Exemtion U/s.10.i.e.I come to know
1.Any amount given by the employer towards Computer/Laptop allowance as exempt.
2.Food coupon issued by employer is also exempt from tax.Is it really allowed by the dept?
If so what is the maximum Limit of each allowance?
S.jegadeesan
CMA Ramesh Krishnan
(Expert)
27 January 2010
As per sec.10(14) allowance based on the actual expenditure by the employee is exempted to the extent of the amount utilised for the specified purpose for which the allowance is received.so in your query also allowance towards computer/laptop is exempted to the extent of usage of offical purpose
Food coupons are exempted up to Rs.50 per meal during the office hours
Food coupons are exempted up to Rs.50 per meal during the office hours
CA Prashant Gupta
(Expert)
27 January 2010
I don't think computer/Laptop allowance is u/s 10(14). As there is no method to calculate the exp for office and no method provided by deptt for this. So as per my concern computer allowance is taxable.
for food coupon if it is provided in office during office hours then exempt upto 50/-
for food coupon if it is provided in office during office hours then exempt upto 50/-
CMA Ramesh Krishnan
(Expert)
27 January 2010
Section 10 (14) is not metioned any named allowance. As per this section we need to considered the purpose of allowance. as I agree there is no method is provided by the department but if there is a reasonable justification is there for usage of offical purpose the portion of offical purpose we can claim exemption
BALASUBRAMANYA B N
(Expert)
27 January 2010
https://www.incometaxindia.gov.in/publications/2_TDS_On_Salaries/Chapter03.asp
S.Jegadeesan
(Querist)
28 January 2010
Dear Mr.Ramesh,
As per your reply, Computer allowance is exempt to the extent of official usage.Is it require any proof?.As computer allowance is exempt from Tax some IT Professional make 50% as computer allowance in their salary Break up.So that they will claim more exemption.How the dept. will allow this type of allowance?.& How they will regulate it?
S.Jegadeesan
As per your reply, Computer allowance is exempt to the extent of official usage.Is it require any proof?.As computer allowance is exempt from Tax some IT Professional make 50% as computer allowance in their salary Break up.So that they will claim more exemption.How the dept. will allow this type of allowance?.& How they will regulate it?
S.Jegadeesan
S.Jegadeesan
(Querist)
28 January 2010
Dear Mr.Ramesh,
As per your reply, Computer allowance is exempt to the extent of official usage.Is it require any proof?.As computer allowance is exempt from Tax some IT Professional make 50% as computer allowance in their salary Break up.So that they will claim more exemption.How the dept. will allow this type of allowance?.& How they will regulate it?
S.Jegadeesan
As per your reply, Computer allowance is exempt to the extent of official usage.Is it require any proof?.As computer allowance is exempt from Tax some IT Professional make 50% as computer allowance in their salary Break up.So that they will claim more exemption.How the dept. will allow this type of allowance?.& How they will regulate it?
S.Jegadeesan
CMA Ramesh Krishnan
(Expert)
28 January 2010
Dear Jagadeesan
Plese let me know the purpose of those allowance and what base your calculating the same
Plese let me know the purpose of those allowance and what base your calculating the same
S.Jegadeesan
(Querist)
29 January 2010
Dear Sir,
i.e.An employee working in a hardware consultancy concern and draw monthly salary for Rs.32500/-.The company provide for Rs.1250/-p.m for Food Allowance Rs.1250 for computer allowance.Now i want to know whether That allowances are eligible to get exemption or not.
i.e.An employee working in a hardware consultancy concern and draw monthly salary for Rs.32500/-.The company provide for Rs.1250/-p.m for Food Allowance Rs.1250 for computer allowance.Now i want to know whether That allowances are eligible to get exemption or not.
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