Sir,
Kindly intimate whether transport allowance paid to govt servant is exempt from taxable income or otherwise
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Rebate on Income tax
Replies (2)
It is taxable from F Y 2018-19 due to introduction of Standard deduction of Rs. 40,000
Transport Allowance has been removed & exempted only for physically challenged employees and employees of a transport business.
Both transport allowance and medical allowance have been abolished and Govt introduced Standard Deduction of 40000/- max
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