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What are the allowances exempted under it for the year 2018_19

DINESH (CORPORATE OFFICE MEMBER) (37 Points)

09 June 2018

Dear Team

Can any one confirm me what are the allowances paid under monthly salary are exempted from IT for fy 2018_ 19

Thanks

Dinesh

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4 Replies

Gurjit Singh (PRO) (22 Points)
Replied 10 June 2018

part of query: convance, HRA

Sunil Ahmad (Student) (1511 Points)
Replied 10 June 2018

HRA
Transport Allowance- claim ₹1600 p.m/3200p.m in case of handicapped.
Children Education Allowance-₹100 p.m per child upto 2child.
Hostel Expenditure Allowance-₹300p.m per child upto 2child.

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DINESH (CORPORATE OFFICE MEMBER) (37 Points)
Replied 11 June 2018

Dear Sunil Ji,

Transport Allowance- claim ₹1600 p.m but this year Total 40,000 Standard Deducion is there and Medical Reimbursemnt and This allowance Exemption is not there.Please correct me if i am wrong.

Dinesh

Sunil Ahmad (Student) (1511 Points)
Replied 11 June 2018

standard deduction of Rs 40,000 replaces medical allowance of Rs 15,000 and transport allowance of Rs 1600 per month i.e. 19,200 per annum. From A.Y 19-20