Hello friends,
Can anyone help me in providing details of tax benefit (if any) available on the following (for salaried person only) with specified limit?
1. Attire Allowance ( Reimbursement against purchase / maintenance of office attire)
2. Gift (Reimbursement towards purchase of Gifts on - birthday / anniversary/ diwali)
3. Telephone ( Reimbursement towards residence telephone bills)
Thanks
Hi Pawan,
1) Attire allowance or Uniform allowance - exemption is available u/s 10(14) tothe extent of actual expenditure
2) Reimbursements of Gift - entire taxable (actual gift not exceeding Rs. 5,000 in value during the entire year are exempt)
3) Reimbursement of telephone bills of residence -entire taxable (u can look for having a telephone connection in the name of employer then it will be exempt)
Thanks a lot Amir and Tarun
CAclubindia
