SALARY

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ankit bisht (Querist)
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19 June 2016 Raman is a engine driver in Indian railways. Is Raman a govt employee or not? one of his Sons in staying in hostel on which Raman spending rs.800 pm. He is getting 500 pm for his son as hostel allowance for meeting this expenditure? calculate hostel allowance?

Murtaza I Bhagat

Murtaza I Bhagat (Expert)
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19 June 2016 Hostel expenditure allowance is granted to an employee to meet the hostel expenditure on his child. It is exempt from tax to the extent of Rs. 300/- per month per child up to a maximum of two children.

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ankit bisht

ankit bisht (Querist)
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19 June 2016 Raman is govt employee or not?

Murtaza I Bhagat

Murtaza I Bhagat (Expert)
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19 June 2016 Yes He is Govt. Employee

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ankit bisht

ankit bisht (Querist)
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19 June 2016 sir the amount 300 is deduct from 800 or 500?

Murtaza I Bhagat

Murtaza I Bhagat (Expert)
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20 June 2016 Max. 300/M per child max. up to two children

ankit bisht

ankit bisht (Querist)
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20 June 2016 I know sir that the max amount 300p.m. would be exempt for two children. I am asking how much taxable?

Murtaza I Bhagat

Murtaza I Bhagat (Expert)
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20 June 2016 While Calculating Salary Taxability, Gross Salary will be your gross receipts and from them sec.10 will deducted as exempted deduction where you have to write 300/M as deduction. in short whatever amount received as allowances which were added to your gross salary on which exempted amount is Max. 300/M.
i.e. 500-300 = 200 taxable

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