Dear Members,
My client is working on contract/adhoc basis with AIR INDIA and the salary component is as follows :-
-basic pay=4000 p.m
-conveyance allowance=500 p.m.
-adhoc allowance= 7500 p.m.
please share the nature of adhoc allowances and whether this allowance is partly taxable or fully taxable.
In my view the adhoc allowance will be fully taxable as per the sections of Income tax Act
M N Rao & Associates LLP
Vijayawada
CA Inter
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Saini Pati Shah & Co LLP, Chartered Accountants
Mumbai
CA Final
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Malhotra Rajesh & Associates
New Delhi
B.Com
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CCI
Pro
CAclubindia
