transport allowance 60000
( actual expenditure 500 p.m)
what amount is to be exempt 1600p.m
or
actual expenditure
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Replies (6)
is it 5000 p.m or 500 p.m
Transport Allowance 60,000
(-) exemption (1600x12). 19200 = 40800
(-) exemption (1600x12). 19200 = 40800
500 p.m
it mean no adjustment of actual expenditure
irrespective of actual expenditure
Transport Allowance received ₹60,000
less : Allowed T.A. ₹ 19,200 (1600 * 12)
Taxable Amount = 40,800
less : Allowed T.A. ₹ 19,200 (1600 * 12)
Taxable Amount = 40,800
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