Dear sir,
Exempted amount can be directly minus/less from Gross income
Like- HRA,LTA,Trans. Allowance, Special Area Allowance, etc
The allowances as specified above are deductible from salary income, subject to its limits, and other conditions as specified under the IT act.
So, check your form 16A, it will give complete details about the amount deductible under each sub-section.
CAclubindia
