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Allowances under salary income
sir if we receive travel allowance every month then it is exempt or not? if exempt then how much claim
Replies (4)
Quick Summary
No, now it is not exempt.
Honourable dhirajlal rambhia sir , Leave travel allowance and leave encashment allowance whether taxable or non taxable please explain with each thing and how it applicable for old tax regimen new tax regime
Encashment of Leave travel allowance while on duty is taxable, but on retirement is tax-exempt subject to max. limit of 25 lakhs.
Allowances are taxable barring few exceptions
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