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Taxability of income
Is the allowances and pension received by M.L.A. and M.P. taxable
Replies (10)
No it is not taxable it is exempt
Allowance received by MLA and MP are exempted but not the daily expenses
like telephone, traveling, office expenses etc they are exempted upto the money being used out of given
the rest balance is taxable under the head income from other sources
pension received by MLA and MP are taxable in their hands under income from other sources
like telephone, traveling, office expenses etc they are exempted upto the money being used out of given
the rest balance is taxable under the head income from other sources
pension received by MLA and MP are taxable in their hands under income from other sources
Mahesh
the allowances received by MLa and mp are non taxable .
Bit the daily expenses are perk they are tax free.
the allowances received by MLa and mp are non taxable .
Bit the daily expenses are perk they are tax free.
Allowances prescribed are not taxable under section 10.
Sec 10 is a broad based covers .
Sec 10(34) is the correct one.
Sec 10(34) is the correct one.
Section 10(17) and section 10 (14) are exemption section but have to see to know the ceteria is applicable or not
Sec 10 (14 ) is for in general.
Not for MP..
Not for MP..
daily allowances are exempt from tax under section 10(17)(i) of income-tax act, while constituency allowances are exempt as per section 10(17)(ii).
Sec 10(17) (ii)
No it's exempt
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