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

Tax queries 336 views 4 replies
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CORPORATE OFFICE MEMBER
37 Points Posted on 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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On 09 June 2018 at 19:36 Report
Replies (4)
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PRO
22 Points Posted on 10 June 2018
part of query: convance, HRA
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On 10 June 2018 at 10:48
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Student
1511 Points Posted on 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.
6 Reply
On 10 June 2018 at 17:12
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CORPORATE OFFICE MEMBER
37 Points Posted on 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

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On 11 June 2018 at 11:33
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Student
1511 Points Posted on 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
6 Reply
On 11 June 2018 at 12:25


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