Transport Allowance
This query is : Resolved
CA Anil Jain
(Querist)
15 November 2007
Respected Sir,
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)}.
Regards,
Anil Jain
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)}.
Regards,
Anil Jain
S.Srinivasaraghavan
(Expert)
16 November 2007
This has already been answered
Suresh Agrawal
(Expert)
17 November 2007
Proportionately Rs.1109.
CA Anil Jain
(Querist)
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?
CA. Kirti S. Ganatra
(Expert)
21 November 2007
It will be 1600
CA Anil Jain
(Querist)
21 November 2007
Respected Experts,
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.
Regards,
Anil Jain.
Respected Experts,
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.
Regards,
Anil Jain.
Sanjeev Mittal
(Expert)
01 December 2007
No it will be 1575 (i.e. 800+775)
CA Anil Jain
(Querist)
03 December 2007
On what Basis?
CA. GOPAL SONIKA
(Expert)
03 March 2008
The amount allowed for deduction U/s 10(14) will be 800+proportionate amount.
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