Exemption of transport allowance
Our transport allowance(TA) increases acco to Dearness Allowance(DA) ie 800+800xDA%.I got T.A. Rs1680 per month & Rs 20160 per annum.What amount of TA shoud be exempted for income tax in financial year 2015- 2016 when exemption limit of TA has increased.
Replies (1)
Exempt upto Rs1,600 per month and balance is taxable.
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