Transportation allowance limit for ay 2015-16

This query is : Resolved

Prajakta Potdar (Querist)
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19 September 2014 Respected Sir

Pls. let us know upto which limit transportation allowance is exempted for
FY 2014-15, AY 2015-16.

Interest on F.D. is exempted or not in AY 2015-16.

Any other deduction apart from 80C is available or not?

If Husband is taking deduction of Home Loan, can wife also take dedn for Home Loan for second home purchased by couple?

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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19 September 2014 Transportation allowance is same Rs 800/- per month. Interest on FD is fully taxable under the head Income from Other Sources. Yes deduction can be availed by wife.

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