Whether Shifting Expenses (Transfer Expenses) received from New employer is exempt from tax or not.
Before giving answer please read Section 10(14) read with rule 2BB
Nishant Merwani (na) (140 Points)
13 July 2012Whether Shifting Expenses (Transfer Expenses) received from New employer is exempt from tax or not.
Before giving answer please read Section 10(14) read with rule 2BB
Vikram Bhatia
(CA Final)
(122 Points)
Replied 14 July 2012
As per Sec. 10(14) read with Rule 2BB (1)
(a) Any allowance granted to meet the cost of travel on tour or on transfer
(b)....
so it can be said that any amount received for transfer expenses (shifting expenes) shall be exempted.
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