I am from Hyd. I have doubt in allowances treatment for tax planning. Can an allowance be considered for tax planning, which is not part of salary.
For ex. Transport allowance is allowed @ Rs. 800 p.m., but the same is not part of salary. As it is allowable upto Rs. 800 p.m., can we consider the same in tax planning.
Please let me know the probability of exemption for such allowances
Yes...you can consider the same for tax planning....
It is allowed UNCONDITIONALLY!
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