My employer bears the cost of my travel and any expenses incurred during the trip [for business trips]
And he also gives me an allowance for taking personal trips in a year.
What of this will I have to pay tax on?
Menu
Travel expense given by employer
Replies (5)
Travel expense by employer.
The tax exemption limit for transport allowance was Rs. 1,600 per month (Rs. 19,200 annually) based on previous regulations. If the received amount is above this exemption limit, the excess amount is taxable.
The present scenario is different.
For the payment of business trip, it's not your income...
For Your personal trip allowance exemption limit is 1600*12. Of it's exceeds then it's taxable in Your hand.
For Your personal trip allowance exemption limit is 1600*12. Of it's exceeds then it's taxable in Your hand.
And this must be shown in form 16 to claim...
Recent Topic
- Clubbing of deceased's income
- Как быст
- Which ITR to use
- Sovereign gold bond capital gain
- In TDS section no column for relationship in itr
- Query related to agricultural income of Trust
- Full & Final Settlement — what changed u
- Capital gains or losses when new equity was issued
- Looking for a FMCG foods business to acquire
- Sale of mutual fund in zerodha and AIS
Related Topics
CAclubindia
