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simple-allowance doubt

Tax queries 567 views 6 replies

is there any change in the sec 10(14) regarding exempt amount for:

children education allowance: Rs 100 per month per child for max 2 children

hostel allowance:Rs 300 per month per child for max 2 children

for eg: allowance recd Children education allowance Rs. 500 p.m. for two children;Hostel expenses allowance Rs. 380 p.m. for two children.

how much is taxable?

Replies (6)
no change for may attemp....CEA is taxable 400 pm per child and HA is taxable 80 pm per child
no change for may attemp....CEA is taxable 400 pm per child and HA is taxable 80 pm per child
ok thnks..d soln is given wrong then..thanks..
soln means??

solution

nothing is taxable for hostel allowance bcoz the amount divided between two children is rs.190 p.m which is exempt and in case of education allowance this will be taxable at rs.300p.m.(if the amount paid in aggregrate for both the children)

otherwise if the amount paid given as per the children then taxable amount in case of hostel allowance is rs.(80+80)pm and in case of education allowance is rs.(400+400)pm


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