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This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
01 February 2012
conveyance / transport allowance for the purpose of office to residence is exempt u/s 10 Rs. 800 and payment during the month is less than Rs. 800 i.e.700 then how much amount is exempted u/s 10 .
Thanks
Thanks
01 February 2012
Do you mean to say that the amount of allowance is less than Rs. 800?
Exemption u/s 10 is minimum of actual allowance or Rs. 800/-.
So, if the actual allowance is less than Rs. 800/-, then the whole amount of allowance shall be exempt. Loss will not be computed by taking Rs. 800 as exempt.
Exemption u/s 10 is minimum of actual allowance or Rs. 800/-.
So, if the actual allowance is less than Rs. 800/-, then the whole amount of allowance shall be exempt. Loss will not be computed by taking Rs. 800 as exempt.
01 February 2012
Rs 700 would be exempt.
Rs 800 is the maximum limit that can be claimed as exemption.
So claim Rs 700 pm as exemption u/s 10
Rs 800 is the maximum limit that can be claimed as exemption.
So claim Rs 700 pm as exemption u/s 10
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