If one employee had a job in a company for 1 month & 12 days and he is getting 2000 per month as Transport allowance and at that time he got rs. 2775{2000+(2000*12/31)} then how much amt will be exempted for him u/s 10(14). 800 or 1600 or Proportionately i.e. 1109 {800+(800*12/31)}.
17 November 2007
But in the TDS Software from where we Prepare form-16 there is only option to write the month in full i.e.in completed months not in fraction months. Is this Software mistake or Law misintrpretation?
Plz don't create confusion.Specify clearrly whether any circular,case Law in this regard.Mr.Suresh Said 1109 & same view of Mr.ss.But u hav different view .Plz reply.
CAclubindia
